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September 17, 2009
September 17, 2009. Vancouver, BC -- Fire
River Gold Corp. (the "Company", "FAU") (CNSX:
FAU)
is pleased to announce, that further to
its news release dated June 19, 2009 and July
27, 2009, the Company has completed a second
tranche closing pertaining to its non‑brokered
private placement and has issued 1,973,673 units
at a purchase price of $0.30 per unit for gross
proceeds of $592,101.90.
Each unit consisted of one common share in the
capital of the Company and one‑half of one share
purchase warrant. Each whole warrant entitles
the holder to purchase one additional common
share of the Company for a period of eighteen
(18) months from the date of issue at an
exercise price of $0.40 per share. In connection
with this second tranche closing the Company has
paid an aggregate of $22,035 in finder fees.
Management has commitments for the balance of our
$3,000,000 financing, and we expect to have the
final closing completed over the next 15 working
days.
In compliance with Canadian Securities Law all
securities issued in connection with this second
tranche closing are subject to a hold period
which will expire January 17, 2010.
About Fire River Gold Corp.
Fire River Gold Corp. (FAU) completed its IPO at the end of May 2009. FAU is the newest member of the
International
Metals Group and will have access to a well established team with over 100 years of experience working in Alaska. The primary focus of FAU is the exploration and development of gold projects in North America. The recently acquired Nixon
Fork Gold Mine in Alaska has the potential to be a near term gold producer. In an effort to continue to add to the Company's overall gold ounce
potential and development schedule, on August 19, 2009, FAU announced an option to acquire 100% of the Golden Zone project. The project is located 240 km north of Anchorage, Alaska on the south flank of the Alaska Range and is road accessible. Management's objective is to make FAU a North American gold producer in the next 18 months.
A budget of CDN$1.25 million has been allocated with the objective of conducting a
re-evaluation of mine reserves/resources, metallurgy, tailings production scenarios, financial analysis and update on the exploration plan going forward.
On behalf of the Board of Directors
"Harry Barr"
Harry Barr
President, CEO and Director
Further Information:
Tel: +1.604.685.1870 Fax: +1.604.685.8045
Email: info@firerivergold.com Website: http://www.firerivergold.com
2303 West 41st Avenue, Vancouver, B.C., Canada, V6M 2A3
The Canadian National Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release
Disclaimer: This news release may contain certain "forward-looking statements". All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the British Columbia Securities Commission and available at www.sedar.com or filed with the Canadian National Stock Exchange. Any forward-looking statements are not guarantees of the Company's future performance and are subject to risks and uncertainties that could cause actual results, developments, and business decisions to differ materially from those contemplated by any forward-looking statements. Except as required by law, the Company undertakes no obligation to update any forward-looking statements.
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