|Fire River Gold Corp. Closes First Tranche Of Non-Brokered Financing For Proceeds Of $5,797,387|
FAU news Nov 18 2010
November 18, 2010. Vancouver, Canada --
Fire River Gold Corp. (TSX.V: FAU; OTCQX: FVGCF; FSE: FWR) (the
"Company") wishes to announce that further to its news release dated
October 21st 2010, the Company has completed the first tranche of
its non-brokered private placement and has issued 12,883,083 units (the
"Units") at a price of $0.45 per Unit for gross proceeds of
Each Unit consists of one common share and one-half of one
non-transferable share purchase warrant. Each whole share purchase
warrant entitles the holder to purchase one common share of the Company
at a price of $0.65 per share for 18 months, subject to an accelerated
expiry provision, such that, in the event that the Company's shares
close at or above $0.90 per share for 10 consecutive trading days on the
TSX Venture Exchange, the expiry date may be accelerated to 30 days.
All of the Common shares issued pursuant to this closing carry a legend
restricting them from trading until March 19, 2011.
The funds from the private placement will be used for the completion of
the carbon-in-leach (CIL) circuit.
On behalf of the Board of Directors,
President and C.E.O.
Certain information regarding the Company including management's
assessment of future plans and operations, may constitute forward-looking
statements under applicable securities laws and necessarily involve risks
associated with mining exploration and development, volatility of prices,
currency fluctuations, imprecision of resource estimates, environmental and
permitting risks, access to labour and services, competition from other
companies and ability to access sufficient capital. As a consequence, actual
results may differ materially from those anticipated in the forward-looking
statements. A feasibility study has not been completed and there is no certainty
the disclosed targets will be reached nor that the proposed operations will be
economically viable. The TSX Venture Exchange or its Regulation Services
Provider have not reviewed and do not accept responsibility for the adequacy or
accuracy of the contents of this news release, which has been prepared
by management. We seek
You can view the Next News Releases item: Tue Nov 23, 2010, Fire River Gold Reports 2010 Surface Drill Holes Results: 37.0 g/t (1.08 opt) Gold Over 3.6 m (11.7 ft) at North Star Zone, Nixon Fork Gold Mine, Alaska
You can view the Previous News Releases item: Thu Oct 21, 2010, Fire River Gold Announces Non Brokered Private Placement To Complete CIL Circuit
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