MONTRÉAL, CANADA--(Marketwired - Dec. 5, 2013) - Corporation Gold Treegenic ("Treegenic" or the "Corporation"), is pleased to announces the closing of a non-brokered private placement for aggregate gross proceeds of $80,000 through the issuance of units (the "Units") at a price of $0.10 per Unit. Each Unit consists of one (1) common share and one half of one (1/2) common share purchase warrant (each full being, a "Warrant"). Each Warrant will be exercisable at a price of $0.15 at any time until December 4, 2015. All securities issued under the private placement are subject to a statutory hold period ending April 5, 2014.
Two investors who acquired securities of the private placement are "related party" as that is defined in the Multilateral Instrument 61-101 ("MI61-101″). As such this portion of the private placement constituted a 'related party transaction under MI 61-101 and TSV Venture Exchange Policy 5.9. The Corporation relied on exemptions from the formal valuation and minority approval requirements that otherwise apply to related party transactions, these exemptions available from the various requirements of TSX Venture Policy 5.9 and Multilateral Instrument 61-101 for the issuance of the securities to the insiders and related party member. No new insiders have been created, nor there has been any change of control as a result of the private placement.
The funds will be used to fund the Corporation's working capital and settle outstanding debts.
About Corporation Gold Treegenic
Treegenic is an early stage mineral exploration company that is mainly focused on the acquisition, exploration and development of mining properties. However, the Corporation currently has no assets other than cash.
Cautionary Note Regarding Forward-Looking Statements
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Corporation expects, are forward-looking statements. These statements include the possible conversion of inferred resources into higher confidence categories of resources. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Corporation undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Corporation at www.sedar.com for further information.