Corex Gold Corporation

Corex Gold Corporation

May 25, 2009 18:40 ET

Corex Announces Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 25, 2009) - Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce a non-brokered private placement of up to 3,000,000 units at a price of $0.20 per unit, for aggregate gross proceeds of up to CDN$600,000. Each unit will consist of one common share and one warrant, exercisable by the holder to acquire one additional common share at a price of $0.32 in year one and $0.45 in year two. The warrants are subject to an accelerated expiry which comes into effect once the shares trade above a weighted average price of $0.50 for any twenty consecutive trading-day period in year one, or $0.65 for any twenty consecutive trading-day period in year two, subsequent to four months from Closing. In the event of an accelerated expiry, the expiry date will be the earlier of the regular two year expiry date and 30 days from the date the Company advises the placees of the accelerated expiry.

The net proceeds from this private placement will be used for additional exploration on Corex's Santana project and for general working capital purposes. The proposed financing is subject to the approval of the TSX Venture Exchange.


Craig D. Schneider, President & CEO

The foregoing information may contain forward-looking statements relating to the future performance of Corex Gold Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Corex Gold Corp.'s filings with the appropriate securities commissions.

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

Contact Information