EDMONTON, ALBERTA--(Marketwired - Feb. 27, 2014) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
North Country Gold Corp. (TSX VENTURE:NCG)(OTCQX:NCGDF) ("North Country" or the "Company") is pleased to announce that it has closed its non-brokered private placement ("Private Placement") financing previously announced on February 3, 2014. The Company issued 10,000,000 common shares of the Company at a price of $0.05 per share for gross proceeds of $500,000. The Common Shares will be subject to a hold period, which will expire four months and one day from the date of closing, being June 28, 2014.
The Company intends to use the proceeds of the Offering for general working capital.
This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements.
Subject to approval by the TSXV, the Company will pay a 5% finders' fee to Quattro Stella Sempre Holdings Ltd. on $100,000 of the gross proceeds raised.
About North Country Gold Corp.
North Country Gold Corp. controls the gold-rich Committee Bay Greenstone Belt located 180 kilometres ("km") northeast of the Agnico Eagle's Meadowbank gold mine in Nunavut Canada. It is one of the largest under-explored greenstone belts in Canada with numerous drill-ready high-grade gold targets. The Company holds a 100% interest in 339,240 acres along the 300km long belt and has identified 5 distinct exploration centres with numerous high-grade gold drill intercepts. North Country operations are currently focused on advancement of the Three Bluffs deposit, which is geologically comparable, with similar grades, type of mineralization and age, to the Lupin, Meadowbank and Meliadine gold deposits. (Please see the Company's announcement on January 22, 2014.
On behalf of the Board of Directors,
North Country Gold Corp.
For more information on North Country Gold Corp., please visit the company's website: www.northcountrygold.com.
North Country Gold Corp. maintains an extensive quality control program in the preparation, shipping and checking of all samples from the property. The content of this news release and the Company's technical disclosure has been reviewed and approved by Peter Kleespies, M.Sc., P.Geol., who is the Qualified Person as defined by NI 43‐101 Standards of Disclosure for Mineral Projects. A detailed description of North Country Gold Corp.'s QA/QC program is provided on the Company's website at www.northcountrygold.com.
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.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the company expects are forward-looking statements. Although the company 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. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.