SOURCE: Consolidated Goldfields Corporation

October 27, 2009 06:30 ET

Consolidated Goldfields Completes $450,000 Financing

RENO, NV--(Marketwire - October 27, 2009) - Consolidated Goldfields Corporation (PINKSHEETS: CDGF) is pleased to announce that the company has completed a non-brokered private placement of 3,000,000 common shares at a price of $0.15 per share for net proceeds of $450,000. Financing was provided through a strategic partner relationship developed by Consolidated's management team. We are currently in advanced discussions with our partner regarding the development of Consolidated's mining projects and will update our shareholders in the near future.

Proceeds from the private placement will be used to resume exploration and development on our more advanced-phase properties including the Pyramid Mine and Cahuilla gold project.

Certain information contained in this news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor created by such sections. However, such forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from such forward-looking statements. The Company disclaims any intent or obligation to update publicly any forward-looking statements set forth herein, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Contact Information

  • For further information, please contact:

    Consolidated Goldfields Corporation
    Thomas Callicrate
    President & CEO
    (775) 829-4507