December 28, 2012 16:00 ET
MONTREAL, QUEBEC--(Marketwire - Dec. 28, 2012) - Adventure Gold Inc. (TSX VENTURE:AGE) ("AGE", the "Corporation") announces the closing of a non-brokered private placement offering (the "Offering"). In total, the Company issued 1,025,000 flow-through shares at a price of $0.42 per share for gross proceeds of $430,500.
In connection with the Offering, the Company didn't pay any finder's fee. All securities issued in the Offering will be subject to a four month hold period from the closing date ending on April 29, 2013. Directors and Officers of the Company participated in the Offering for total proceeds of $73,500. The proceeds of this offering will be allocated to exploration work on the properties of the Company in Quebec.
The Corporation is a mineral exploration company focused on discovering and developing high-quality gold deposits in the Abitibi region located in eastern Canada - one of the richest gold mines areas in the world. The Corporation has become, in a few years, an important player in the mining exploration industry with one of the best portfolio of exploration properties along the main gold-bearing structures of the Abitibi Greenstone Belt. The Company is exploring mainly close to gold mines where the mining production infrastructures are already existent, which distinguishes it from several other exploration companies. The Corporation's exploration team are mining professionals having worked previously for well-established producing companies and understand the industry challenges. The Corporation owns 100% of the rights on its three main projects namely: Val-d'Or East, Detour Quebec and Casa-Cameron. The Val-d'Or East flagship project encompasses the Pascalis-Colombiere property where Cambior Inc. (now IAMGOLD) was producing gold between 1989 and 1993 at the Beliveau Mine. Close to the former mine, the Corporation recently discovered a significant new gold system and works actively in its development. As disclosed in its latest financial statements, the Corporation is well financed to apply its business plan.
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.
Marco GagnonPresident & CEOmarco@adventure-gold.com450.743.5527
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