Mr. Zak Dingsdale reports
TAKU GOLD CORP. ANNOUNCES CLOSING OF FIRST TRANCHE OF FINANCING
Taku Gold Corp. has closed the first tranche of the previously announced non-brokered private placement financing. An aggregate of 4.05 million units at a price of 10 cents per unit were issued in the first tranche for gross proceeds of $405,000.
Each unit consists of one common share and one common share purchase warrant, each warrant entitling the holder to acquire one additional common share at 15 cents for 24 months from the date of issue.
In the first tranche closing, the company paid commissions of 6 per cent in cash and 6 per cent in compensation warrants, in accordance with Canadian Securities Exchange policies, to certain eligible agents. Total cash payments were $11,430 and 114,300 compensation warrants were issued. The compensation warrants have the same terms as the warrants.
The net proceeds from the private placement will be used to finance Taku's continuing exploration programs in the White Gold district of Yukon and for general working capital.
Taku holds a portfolio of 1,449 claims (29,813 hectares) in the White Gold district.
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