VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 30, 2014) - La Ronge Gold Corp. ("La Ronge" or the "Company") (TSX VENTURE:LAR) is pleased to announce that it has completed the first of its two-tranche brokered private placement. The first tranche consists of 4,000,000 common shares at a price of $0.25 per common share to raise gross proceeds of $1,000,000. The company is progressing efforts on the $6,000,000 subscription receipt raise.
Insider participation of Rasool Mohammad for 450,000 shares.
The Company has issued to the Underwriters 234,500 of non-transferable Common Share purchase warrants ("Broker Warrants") and $58,625 in cash commission. Each Broker Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.25 per share for a period of 24 months following closing of the Offering.
All securities issued or issuable under the Offering are subject to a four-month hold period expiring on September 30, 2014, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada.
About La Ronge Gold Corp.
La Ronge is actively engaged in diversifying its mining assets portfolio into sectors other than precious metals. The intent of this strategy is to identify and acquire strategic investments that have the capability to generate cash flow with low capital expenditure costs. This mining asset diversification strategy is limited geographically to Canada at the present time. La Ronge is a Vancouver-based resource growth and development company. The Company owns high-grade gold deposits in one of Canada's emerging gold producing regions, the La Ronge Gold Belt, northern Saskatchewan. La Ronge also holds other gold projects located in Ontario and Saskatchewan.
For more information about La Ronge Gold Corp., please go to www.larongegold.com.
Cameron Bartsch, M.Sc., P.Geo., of Tetra Tech EBA, a Qualified Person as defined by National Instrument 43-101, has reviewed the scientific and technical information disclosed in this News Release and has approved its dissemination.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.
This News Release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward-looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.