Manado Closes Flow-Through and Non- Flow-Through Private Placement Offering
Vancouver, BC / TNW-Accesswire / September 3, 2014/ Manado Gold Corp. ("Manado") (TSX-V: MDO) announced that Manado has closed its previously announced private placement (see news release dated July 2, 2014) by issuing 1,866,700 flow-through units ("FT Units") at a price of $0.06 per FT Unit and 720,000 non flow-through units ("NFT Units") at a price of $0.05 per NFT Unit for gross proceeds of $148,002. Each FT Unit consists of one flow-through share of Manado, and one-half non-transferable share purchase warrant, with each whole warrant entitling the holder to purchase one non flow-through share at a price of $0.10 per share for a period of one year following closing. Each NFT Unit consists of one common share of Manado and one share purchase warrant, with each warrant entitling the holder to acquire one additional share at a price of $0.06 per Share for a period of three years from the date of issuance.
The securities issued under the private placement will be subject to a hold period expiring on January 3, 2015 pursuant to applicable Canadian securities laws and the rules of the TSX Venture Exchange.
Proceeds of the offering will be used for working capital and to carry out the first phase its exploration program on the Takla-Rainbow Property to follow up on its successful 2013 drill program where hole number TR13-88 finished in a mineralised zone.
Logan Anderson
President
For further information, please contact:
Logan Anderson
Phone: (604) 685-4745
Email: info@manadogold.com,
or
Investor Relations
Dave Ryan
dave@manadogold.com
or
Doren Quinton, President QIS Capital Corp.
www.smallcaps.ca
Ph: (250) 377-1182
Fax: (250) 377-1183
Forward-Looking Statements Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Manado cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Manado's control. Such factors include, among other things: risks and uncertainties relating to Manado's limited operating history; the need to comply with environmental and governmental regulations; and potential defects in title to Manado's properties. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Manado undertakes no obligation to publicly update or revise forward-looking information.
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.
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