Not for distribution to United States newswire services or for dissemination in the United States
VANCOUVER, British Columbia, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Core Gold Inc. ("Core Gold" or the "Company") (TSX-V: CGLD, OTCQX: CGLDF) is pleased to announce that it intends to conduct an offering, on a non-brokered private placement basis, of up to 6,666,666 units of the Company (the "Units") at a subscription price of $0.30 per Unit for aggregate gross proceeds of up to $2,000,000 (the "Private Placement"). Each Unit will consist of one common share of the Company (each, a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share at a price of $0.45 for a period of two (2) years following the closing of the Private Placement, subject to acceleration in the event that the closing price of the Company’s Common Shares is $0.60 per share or higher over a period of 10 consecutive trading days. All securities issued pursuant to the Private Placement will be subject to a hold period that expires four months and a day from the closing date in accordance with the rules and policies of the TSX Venture Exchange (the "TSXV") and applicable Canadian securities laws.