SG Spirit Gold Inc.
TSX VENTURE : SG

August 09, 2011 13:23 ET

SG Spirit Gold Inc. Announces Private Placement

CALGARY, ALBERTA--(Marketwire - Aug. 9, 2011) - SG Spirit Gold Inc. ("Spirit Gold" or the "Company") (TSX VENTURE:SG) announces that, subject to the approval of the TSX Venture Exchange, it proposes to conduct a non-brokered private placement of up to 20,000,000 Units at a price of $0.06 per unit for gross proceeds of up to $1,200,000. Each Unit shall be comprised of one common share and one transferable common share purchase warrant (the "Unit"). Each warrant shall entitle the holder to acquire one additional common share at $0.10 per common share for a period of 24 months from the date of closing of the private placement. Spirit Gold may pay finders' fees on a portion of the private placement. The proceeds from this offering will be used to fund accounts payable and to further the Company's exploration, development and acquisition programs.

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.

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