Vancouver, British Columbia -- Further to its news release of January 8, 2014, Cortez Gold Corp. (TSXV:CUT) ("Cortez" or the "Company") announced today that it has closed Tranche 2, being the final tranche of its non-brokered private placement, with the issuance of 2,000,000 Units (the "Units") priced at $0.20 per Unit, for gross proceeds of $400,000.
Each Unit consists of one common share of the Company and one-half of one share purchase warrant (a "Warrant") with each whole Warrant entitling the holder thereof to acquire an additional common share of the Company for a period of two years at a price of $0.40 per share. The Company may choose to accelerate the expiry date of the Warrants if the Company's shares close at a minimum of $0.60 on the TSX Venture Exchange (the "Exchanger") for a period of 20 consecutive trading days.
No finders' fees were paid in connection with Tranche 2 of the private placement.
A portion of Tranche 2 in the aggregate amount of 1,500,000 Units is held in escrow, pending Exchange acceptance of the subscriber, who becomes a new insider of the Company post-closing.
All securities issued are subject to a hold period of four months in accordance with the rules and policies of the Exchange and applicable Canadian securities laws.
ON BEHALF OF THE BOARD of Cortez Gold Corp.
(sgd.) "Robert Eadie" Robert Eadie, President
Neither the 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.
For further information please contact:
Cortez Gold Corp. Robert Eadie, President Suite 750, 580 Hornby Street, Box 113 Vancouver, British Columbia V6C 3B6 Tel: (604) 602-4935 • Fax: (604) 602-4936
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Vancouver, British Columbia -- Further to its news release of January 8, 2014, Cortez Gold Corp. (TSXV:CUT) ("Cortez" or the "Company") announced today that it has closed Tranche 2, being the final tranche of its non-brokered private placement, with the issuance of 2,000,000 Units (the "Units") priced at $0.20 per Unit, for gross proceeds of $400,000.
