AMontreal, Canada - (November 25, 2013) - Algold Resources Ltd. (TSXV:ALG) (the "Corporation" or "Algold") is pleased to announce the closing of the second tranche of its private placement (the "Private Placement"), for 1,135,000 units (the "Units") at a price of $0.15 per Unit, for gross proceeds of approximately $170,250. Each Unit is comprised of one common share of the Corporation (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one Common Share at a price of C$0.20 at any time for a period of 18 months. The closing of the first tranche, in which the Corporation raised $1,016,250, was announced on July 12, 2013.
All securities issued in connection with the Private Placement are subject to a statutory hold period of four months plus one day.
Separately, Algold also announces that it has issued 625,000 stock options to certain of its directors, officers and directors of its subsidiaries, each option having an exercise price of $0.15 and expiring 10 years after its issuance.
Finally, Algold announces the recent filing of a technical report dated October 31, 2013 titled "Kneivissat Property - Mauritania - 43-101 Technical Evaluation Report". This report relates to Algold's property in Mauritania, acquired in January 2013.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact Information
Algold Resources Ltd.
Francois Auclair
President & CEO
(514) 889-5089