TORONTO, ONTARIO--(Marketwired - April 25, 2014) - AurCrest Gold Inc. (the "Company" or "AurCrest") (TSX VENTURE:AGO) wishes to announce that it has closed the first tranche of the non-brokered private placement announced in its Press Release dated April 16, 2014. The Company placed 1,300,000 working capital units (each a "WC Unit") for proceeds of $65,000 and 1,300,000 flow-through units (each a "FT Unit") for proceeds of $65,000.
Each WC Unit consists of one common share of the Company and one (1) share purchase warrant (a "WC Warrant"). Each WC Warrant entitles the holder to acquire an additional common share for five (5) years from the closing of the Offering at a price of $0.05 per Common Share. Each FT Unit consists of one flow-through common share of the Company and one (1) non flow-through share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire an additional common share for five (5) years from the closing of the Offering at a price of $0.05 per Common Share.
Securities issued under this tranche are subject to a hold period expiring on August 26, 2014.
The Company will leave the Offering open.
About AurCrest Gold Inc.
AurCrest Gold is a mineral exploration company focused on the acquisition, exploration, and development of gold properties. AurCrest has a portfolio of properties in Ontario, which include the Richardson Lake and Bridget Lake gold properties.
Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various risks. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events may differ materially from those anticipated in such statements. AurCrest undertakes no obligation to update such forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on such forward-looking statements.
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.