Vancouver, BC, April 25, 2013, Intigold Mines Ltd. (IGD - TSX.V and IDMNF - OTCQX) ("Intigold" or the "Company") today announces the following:
Intigold has closed $200,000 of the non-brokered private placement (the "Private Placement") previously announced on January 31, 2013 and April 15, 2013. The private placement consists of 1,818,182 units at a price of $0.11 per unit for total proceeds of $200,000. Each unit consists of one common share of the Company and one non-transferable share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share of the Company at a price of $0.15 per share for two years expiring on April 25, 2015. In connection with the private placement, finder's fees of 10% totaling $5,500 were paid. The proceeds of the private placement will be used for general working capital. In accordance with securities legislation currently in effect, all of the securities issued will be subject to a "hold period" of four months plus one day from the date of closing, expiring on August 26, 2013. The private placement is subject to regulatory approval.
The Company also announces that, due to recent developments with respect to its investment in TTAGIT Social Networks Inc., it has cancelled the remainder of the Private Placement.
Intigold has entered into a consultant agreement with Mr. Jeff Ruskowsky to provide investor relations, corporate marketing, communication enhancement and strategic awareness services. The services provided by Mr. Ruskowsky encompass building and maintaining an investor audience for the Company for distribution of press releases and development-focused updates, increasing awareness about the Company through access to established relationships with existing and potential investors.
In consideration of his services, the Company has agreed to pay Mr. Ruskowsky a fee of $2,500 per month for an initial term of three months commencing April 22, 2013, after which the agreement continues on a month-to-month basis, subject to the Company's right to terminate upon one month's notice. Mr. Ruskowsky will also be entitled to receive incentive stock options to purchase common shares in the capital of the Company, from time to time, at the discretion of the Board of Directors at such price or prices and upon such terms as may be acceptable to the TSX Venture Exchange. Mr. Ruskowsky indirectly owns warrants to purchase 455,000 common shares of the Company at a price of $0.22 per share.
For information on Intigold and its projects, please visit us at www.intigold.com or call 604-669-4677 or toll free at 1-888-895-5522:
INTIGOLD MINES LTD.
(signed "Lori McClenahan")
Neither the 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.
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