Crescent Gold Limited
ASX : CRE
TSX : CRA
FRANKFURT : CRE5

Crescent Gold Limited

January 22, 2010 01:39 ET

Crescent Gold Successfully Completes Equity Raising

PERTH, WESTERN AUSTRALIA--(Marketwire - Jan. 22, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Crescent Gold Limited (TSX:CRA)(ASX:CRE)(FRANKFURT:CRE5) is pleased to announce it has successfully completed a placement of 26,615,000 million shares to raise A$5,323,000 million equity to sophisticated investors. These sophisticated investors include several global gold funds based in the US and Canada. The shares were placed at a price of A$0.20 per share and include one option for every two shares issued. These options expire on 15 January 2013 and will have an exercise price of A$0.30.

As previously announced, the funds raised will be used for the unbudgeted acquisition costs and subsequent accelerated development work (primarily drilling) on the Laverton Extended Joint Venture properties. These properties were acquired from Barrick and Carbon Energy (ASX: CNX) in November 2009 as previously announced which included 1.1m ounces of JORC resources (Crescent's total resource = 2.1m ounces).

Casimir Capital LP based in New York and Casimir Capital (Asia Pacific) Pty Ltd, based in Sydney have successfully coordinated the placement.

Yours faithfully

ROLAND HILL, CHAIRMAN

Additional information related to the Company is available for review at www.sedar.com or on the Company's website at www.crescentgold.com.

ABN 49 087 360 996

SHARE INFORMATION

ASX Share Price: A$0.225

Issued Shares: 618.7m

Market Cap: A$139.2m

Unlisted options and convertible notes: 49.9m

FULLY DILUTED BASIS

Shares: 668.6m

Contact Information

  • Crescent Gold Limited - Australia
    Roland Hill
    +61 8 6380 7100
    or
    Crescent Gold Limited - Australia
    Jo-Ann Wellstead
    +61 8 6380 7100
    or
    Crescent Gold Limited - Canada
    Renee Brickner
    +1 604 802 6806
    info@crescentgold.com
    www.crescentgold.com