Skyline Gold Corporation
TSX VENTURE : SK

Skyline Gold Corporation

October 01, 2009 11:52 ET

Skyline Gold Announces Private Placement

RICHMOND, BRITISH COLUMBIA--(Marketwire - Oct. 1, 2009) - Skyline Gold Corporation ("the Company") (TSX VENTURE:SK), a company engaged in the exploration and development of its 2.6 million ounce Bronson Slope gold project in north western British Columbia's 'Golden Triangle', is pleased to announce that it has secured, subject to obtaining requisite approvals, financing in a non-brokered private placement of 4,375,000 units at a price of $0.08 per unit for net proceeds of $350,000. The placement is with a significant Canadian institutional fund. The proceeds of the placement will be used for general corporate purposes and to advance the Bronson Slope Project.

Each unit consists of 1 common share and 1 whole common share purchase warrant. Each warrant will entitle the holder to purchase one additional share of the Company at a price of $0.12 per share for a period of one year from date of issue. The units have a hold period that expires 4 months from the date of issue. No finders' fees or commissions are due on the private placement.

ON BEHALF OF THE BOARD OF DIRECTORS

SKYLINE GOLD CORPORATION

David Jensen, P.Eng., President

Cautionary Statement

Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfil such forward-statements and the Company undertakes no obligation to update statements. Such forward looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.

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.

Contact Information

  • Skyline Gold Corporation
    David Jensen, P.Eng.
    President
    604.270.3878
    604.270.3858 (FAX)
    www.skylinegold.com