BCGold Corp.
TSX VENTURE : BCG

BCGold Corp.

December 29, 2006 17:00 ET

BCGold Completes Non-Brokered Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 29, 2006) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR RELEASE TO U.S. NEWSWIRE SERVICES

BCGold Corp. (the "Company") (TSX VENTURE:BCG) announces that it has completed its previously announced non-brokered private placement for aggregate gross proceeds of $856,800. The private placement was comprised of 1,427,999 units of the Company ("Units") at a price of $0.60 per Unit. Each Unit is comprised of one flow-through common share and one-half of one common share purchase warrant. Each whole such warrant will entitle the holder to purchase one non-flow-through common share at a price of $0.80 per share for a period of 12 months after the date of issuance, subject to acceleration in the event the closing price of the common shares of the Company on the TSX Venture Exchange is $1.25 per share or higher over a period of 20 consecutive trading days beginning on the date that is four months and one day after the date of issuance of the warrants.

The securities are subject to a hold period and may not be traded until April 30, 2007 except as permitted by Canadian securities legislation and the TSX Venture Exchange.

The Company intends to use the proceeds from the offering for exploration activities on its Canadian properties.

ON BEHALF OF THE BOARD OF DIRECTORS

Freeman Smith, President and Chief Executive Officer

Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to the use of proceeds. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the use of proceeds and completion of expenditures.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • BCGold Corp.
    Sacha C. Fernandes
    Manager, Investor Relations
    (604) 773-7213
    or
    BCGold Corp.
    Freeman Smith, P. Geo.
    President & CEO
    (250) 804-4931
    Website: www.BCGoldcorp.com