Lago Dourado Minerals Ltd.
TSX VENTURE : LDM

Lago Dourado Minerals Ltd.

November 23, 2010 14:52 ET

Lago Dourado Minerals Ltd. Announces Receipt of Notice of Exercise of Over-Allotment Option

TORONTO, ONTARIO--(Marketwire - Nov. 23, 2010) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS WIRE SERVICES

Lago Dourado Minerals Ltd. (TSX VENTURE:LDM) (the "Company") announces that it has received notice from Jennings Capital Inc., as lead agent, on behalf of itself and Raymond James Ltd. (collectively, the "Agents"), of the exercise in full of the over-allotment option (the "Over-Allotment Option"), previously granted to the Agents by the Company in connection with the initial public offering of its common shares that closed on November 16, 2010. 

Pursuant to the Over-Allotment Option, the Company will sell an additional 2,000,000 common shares at an issue price of $0.50 per Common Share for additional gross proceeds to the Company of $1,000,000. It is anticipated that the closing of the Over-Allotment Option will occur on or about November 25, 2010.

A copy of the Company's final prospectus for its initial public offering and material contracts are available under the Company's profile on the SEDAR website at www.sedar.com.

About the Company

Lago Dourado Minerals Ltd. is a Canadian mineral exploration company focused on advancing the Juruena Project, an extensive gold mineralization system located in the State of Mato Grosso, Brazil. The Company is currently undertaking preliminary exploration ahead of its Phase I drill campaign, which is expected to commence by the end of 2010. The Company also controls the Jauru Project, an earlier stage gold project located on a prospective belt in the south of Brazil.

This press release contains forward-looking statements, which can be identified by the use of statements that include words such as "anticipated", "will" or other similar words or phrases. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer, solicitation of sale would be unlawful. These securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws or pursuant to an exemption therefrom. Any public offering of the securities in the United States may only be made by means of a prospectus containing detailed information about the Company and its management as well as financial statements.

NEITHER THE 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.

Contact Information

  • Lago Dourado Minerals Ltd.
    Forbes Gemmell
    President and Chief Executive Officer
    (416) 368-5005
    fgemmell@lagodourado.net