Private Placement Canadian Gold Hunter Corp. (the "Company") (TSX:CGH) is pleased to announce that it has
agreed to sell, on a non-brokered, private placement basis, up to
2,381,000 Flow-Through Common Shares at a price of Cdn $1.05 per
Flow-Through Share and up to 555,500 Common Shares (Non Flow-Through) at
a price of Cdn $0.90 per Common Share for total gross proceeds of up to
Cdn $3 million.
The private placement is subject to regulatory approval. A finder's fee
will be payable in connection with the private placement.
The gross proceeds of the Flow-Through Shares shall be used for the
exploration of the Company's Canadian exploration projects. The Company
will use its best efforts to ensure that the exploration expenditures
qualify for the investment expenditure credits for purposes of the Income
Tax Act (Canada). The gross proceeds of the Common Shares (Non
Flow-Through) will be used for general working capital purposes.