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FGC Frontline Gold Corporation

0.02
0.00 (0.00%)
21 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Frontline Gold Corporation TSXV:FGC TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.02 0.01 0.02 0 01:00:00

Frontline Gold Announces Closing of Private Placement

30/09/2013 1:45pm

Marketwired Canada


NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Frontline Gold Corporation (TSX VENTURE:FGC) ("Frontline" or the "Company")
announces the closing of a non-brokered private placement (the "Offering") for
aggregate gross proceeds of $37,500, by the issuance of 1,875,000 units (the
"Units") at a price of $0.02 per Unit. Each Unit is comprised of one common
share in the capital of the Company ("Common Share") and one full
non-transferable Common Share purchase warrant ("Warrant"). Each Warrant shall
entitle the holder to acquire one full Common Share at a price of $0.07 at any
time within 12 (twelve) months from issuance, and thereafter, at a price of
$0.10 until the expiry of two years from issuance, subject to the accelerated
expiry provisions described below. 


The Offering was closed pursuant to TSX Venture Exchange Bulletin which provided
for temporary relief from certain pricing requirements, and the Company confirms
that disinterested directors of Frontline have approved this Offering. The
securities issued upon the closing of the Offering will be subject to a four
month hold period from the date of issue, including any other re-sale
restrictions imposed by applicable securities regulatory authorities.


If, commencing four months after the closing of the Offering, the common shares
of Frontline trade at or above $0.19 on the TSX Venture Exchange for a minimum
of 20 consecutive trading days, then Frontline shall have the right to give
notice of early expiry of the Warrants. Early expiry shall accelerate and be
automatically amended to be the 30th day after the date on which Frontline gives
notice to the Warrant holder of such acceleration. 


The proceeds from the Offering will be used for property option payments,
exploration expenditures and general and administrative costs.


About Frontline Gold Corporation

Frontline is a Canadian junior mineral exploration company with an experienced
discovery team and a proven record of accomplishment. The Company's flagship
properties include the Menderes gold project in the Izmir province of Western
Turkey and the Niaouleni gold project in southern Mali in the heart of West
Africa's prolific gold belt. Ongoing Canadian exploration includes the Poly
(gold VMS) and the Stewart (gold-copper porphyry) projects.


For further information, please visit the Company's website at
www.frontlinegold.com to view the most recent corporate presentation.


This news release contains forward-looking statements, which address future
events and conditions, which are subject to various risks and uncertainties. The
Company's actual results, programs and financial position could differ
materially from those anticipated in such forward-looking statements as a result
of numerous factors, some of which may be beyond the Company's control. These
factors include: the availability of funds; the timing and content of work
programs; results of exploration activities and development of mineral
properties, the interpretation of drilling results and other geological data,
the uncertainties of resource and reserve estimations, receipt and security of
mineral property titles; project cost overruns or unanticipated costs and
expenses, fluctuations in metal prices; currency fluctuations; and general
market and industry conditions. 


Forward-looking statements are based on the expectations and opinions of the
Company's management on the date the statements are made. The assumptions used
in the preparation of such statements, although considered reasonable at the
time of preparation, may prove to be imprecise and, as such, undue reliance
should not be placed on forward-looking statements.


Walter Henry, President & CEO

FRONTLINE GOLD CORP.

Neither TSX Venture Exchange nor its Regulation Services Provider (as defined in
the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Frontline Gold Corp.
Walter Henry
President & CEO
(416) 362-9100
(416) 362-9300 (FAX)
info@frontlinegold.com
www.frontlinegold.com

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