Canadian Gold Hunter Corp.
TSX : CGH

Canadian Gold Hunter Corp.

June 24, 2008 13:42 ET

Canadian Gold Hunter Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 24, 2008) - Canadian Gold Hunter Corp. (TSX:CGH) (the "Company") reports that it has agreed to sell, on a non-brokered, private placement basis, up to 435,000 Flow-Through Common Shares at a price of Cdn $2.30 per Flow-Through Share and up to 3,500,000 Common Shares (Non Flow-Through) at a price of Cdn $2.00 per Common Share for total gross proceeds of up to Cdn $8,000,500.

The private placement is subject to regulatory approval. A 4% finders' fee may be payable on a portion of the private placement.

The gross proceeds of the Flow-Through Shares shall be used for the exploration of the Company's Canadian exploration projects. The Company will use its best efforts to ensure that the exploration expenditures qualify for the investment expenditure credits for purposes of the Income Tax Act (Canada). The gross proceeds of the Common Shares (Non Flow-Through) will be used for general working capital purposes.

ON BEHALF OF THE BOARD

Richard J. Bailes, President

Contact Information

  • Canadian Gold Hunter Corp.
    Sophia Shane
    Corporate Development
    (604) 689-7842
    (604) 689-4250 (FAX)
    Website: www.canadiangoldhunter.com