Owner
Post by Franko10 ™ on Dec 6, 2007 10:07:43 GMT -5
CASTLE GOLD ANNOUNCES EARLY EXERCISE WARRANT
INCENTIVE AMENDMENT
TORONTO, ON, September 17, 2007 – Castle Gold Corporation (TSX-V: CSG) announces that it has received TSX Venture Exchange acceptance to re-price certain warrants (the “Warrants”) to encourage the early exercise of up to an aggregate of 2,409,000 warrants which entitle the holders to purchase up to 2,409,000 common shares (each a “Share”) in the capital of the Company currently exercisable at a purchase price of $0.72 per Share. For a limited time only, until 4:00 p.m. (EST) on October 19, 2007 (the “Amended Exercise Date”) holders of these Warrants may redeem them at a reduced exercise price of $0.58 per Share.
The Warrants were originally issued pursuant to a private placement of Aurogin Resources Ltd. (which amalgamated with Morgain Minerals Inc. effective August 28, 2007) that closed on April 20, 2006. The Warrants have a term of two years and expire on April 20, 2008. In the event that the Warrants are not exercised on or before the Amended Exercise Date, the Warrants will revert to their original terms which entitle holders to exercise the Warrants at a purchase price of $0.72 per Share at any time until 4:00 p.m. EST on April 20, 2008.
In the event that the Warrants are fully exercised on or before October 19, 2007, the Company expects to generate proceeds of $1,397,220. Castle Gold expects to use proceeds from early redemptions to advance initiatives at its 100% owned El Castillo gold mine in Mexico and for general working capital purposes.
Castle Gold is a growth oriented gold producer focused on expanding gold production within the Americas.
It currently jointly operates the 50% owned El Sastre gold mine in Guatemala and is nearing completion of its 100% owned El Castillo gold mine in Mexico. In addition, Castle Gold is advancing exploration and development work at its 100% owned La Fortuna gold project in Mexico and at its El Sastre, Bridge and Lupita projects in Guatemala.
For further information about Castle Gold contact:
Court Babsmall thingy, Investor Relations (604) 643-1727
Coal Harbour Communications Inc. (604) 662-4505 or Toll-free 1-877-642-6200
Current issued and outstanding share capital: 70,195,647
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.
INCENTIVE AMENDMENT
TORONTO, ON, September 17, 2007 – Castle Gold Corporation (TSX-V: CSG) announces that it has received TSX Venture Exchange acceptance to re-price certain warrants (the “Warrants”) to encourage the early exercise of up to an aggregate of 2,409,000 warrants which entitle the holders to purchase up to 2,409,000 common shares (each a “Share”) in the capital of the Company currently exercisable at a purchase price of $0.72 per Share. For a limited time only, until 4:00 p.m. (EST) on October 19, 2007 (the “Amended Exercise Date”) holders of these Warrants may redeem them at a reduced exercise price of $0.58 per Share.
The Warrants were originally issued pursuant to a private placement of Aurogin Resources Ltd. (which amalgamated with Morgain Minerals Inc. effective August 28, 2007) that closed on April 20, 2006. The Warrants have a term of two years and expire on April 20, 2008. In the event that the Warrants are not exercised on or before the Amended Exercise Date, the Warrants will revert to their original terms which entitle holders to exercise the Warrants at a purchase price of $0.72 per Share at any time until 4:00 p.m. EST on April 20, 2008.
In the event that the Warrants are fully exercised on or before October 19, 2007, the Company expects to generate proceeds of $1,397,220. Castle Gold expects to use proceeds from early redemptions to advance initiatives at its 100% owned El Castillo gold mine in Mexico and for general working capital purposes.
Castle Gold is a growth oriented gold producer focused on expanding gold production within the Americas.
It currently jointly operates the 50% owned El Sastre gold mine in Guatemala and is nearing completion of its 100% owned El Castillo gold mine in Mexico. In addition, Castle Gold is advancing exploration and development work at its 100% owned La Fortuna gold project in Mexico and at its El Sastre, Bridge and Lupita projects in Guatemala.
For further information about Castle Gold contact:
Court Babsmall thingy, Investor Relations (604) 643-1727
Coal Harbour Communications Inc. (604) 662-4505 or Toll-free 1-877-642-6200
Current issued and outstanding share capital: 70,195,647
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy of this news release.
