Manado Gold Corp. (the "Company") announces that it plans to offer, on a private placement basis, up to 4,000,000 units (each, a "Unit") at a price of $0.05 per Unit for gross proceeds of $200,000 (the "Offering"). Each Unit will consist of one common share of the Company (each, a "Share") and one non-transferable share purchase warrant (each, a "Warrant"), with each Warrant entitling the holder to purchase one additional Share at a price of $0.06 per Share for a period of three years following the closing date of the Offering.
The proceeds of the Offering will be used for mineral exploration and working capital purposes. Closing of the proposed Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.
Manado Gold Corp.
For further information, please contact:
Logan Anderson or Dave Ryan
Phone: (604) 685-4745
QIS Capital Corporation,
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 the fact that there is assurance that any or all of the private placement will be completed. 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.