|Fire River Gold Corp. Extends Final Closing of Brokered Private Placement|
FAU news Jan 19 2010
January 29, 2010. Vancouver, Canada -- Fire River Gold Corp. (TSX.V:
FAU; OTCQX: FVGCF; FSE: FWR) (the "Company") wishes to announce that
it has extended (subject to the TSX Venture Exchange approval) the
closing of the final tranche of the $10 million brokered private
placement announced on November 19, 2009. Closing is expected to be
completed by mid February.
On December 21, 2009 Fire River Gold Corp. announced that further to its
news release of November 19, 2009, the Company had completed the first
tranche of its brokered private placement and accordingly issued
6,000,000 units (the "Units") at a price of $0.50 per Unit for gross
proceeds of $3,000,000. Each Unit consisted of one common share and
one-half of one share purchase warrant. Each whole warrant entitles the
holder to purchase one additional common share at a purchase price of
$0.75 for a period of 18 months.
The Company entered into an agreement with a syndicate of agents lead by
Loewen, Ondaatje, McCutcheon Ltd., and including Macquarie Capital
Markets Canada Ltd. and MPartners Inc. (the "Agents") to raise on a best
efforts private placement basis up to $10 million through the issuance
of units of the Company (the "Unit") at a price of $0.50 per Unit. Each
Unit of the Company consisting of one common share and one half common
share purchase warrant (a "Warrant"), each whole Warrant exercisable to
acquire one additional common share at a price of $0.75 per common
share, for a period of 18 months after the closing date of the private
placement (the "Closing").
The funds from the private placement will be used for the exploration
and development of the Nixon Fork Gold Mine in Alaska, and for general
About Fire River Gold Corp.
Fire River Gold Corp. ("FAU") primary focused on exploration and
development of gold projects within North America. The Company is the
newest member of the International Metals Group (IMG) (www.internationalmetalsgroup.com)
and has access to a well established team with over 100 years of
experience working in Alaska. The recently acquired Nixon Fork Gold Mine
in Alaska has the potential to be a near term gold producer. The Company
is presently negotiating additional advanced stage gold projects in
North America. Management's objective is to make FAU a North American
gold producer in the next 18 months.
|On behalf of the Board of Directors, I look forward to keeping you updated with our corporate developments.
President & CEO
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not Pink OTC Markets Inc. are solely responsible for the accuracy of such news releases.
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