Skyline Gold Corporation

Skyline Gold Corporation

June 09, 2009 18:13 ET

Skyline Gold Announces Convertible Loan Private Placement

RICHMOND, BRITISH COLUMBIA--(Marketwire - June 9, 2009) - Skyline Gold Corporation (TSX VENTURE:SK) ("the Company"), a company engaged in the exploration and development of the Bronson Slope Project in north western British Columbia's 'Golden Triangle', is pleased to announce that it has secured, subject to TSX final approval, a convertible loan maturing on June 1, 2010 for proceeds of $111,875, bearing interest of 12% per annum.

The principal and accrued interest may be prepaid, at the Company's election and subject to the lenders' conversion rights of the principal, after December 1, 2009 until the end of the loan term. No commissions or finder's fees were paid on the financing.

At the election of the lenders, the loan principal is convertible into the Company's common shares at a price of $0.065 per share. The proceeds of the placement will be used for general corporate purposes and to advance the Bronson Slope Project. An insider of the Company participated in the amount of $16,000.



David Jensen, P.Eng., President

Cautionary Statement

Statements in this release may be viewed as forward-looking statements. Such statements involve risks and uncertainties that could cause actual results to differ materially from those projected. There are no assurances the Company can fulfil such forward-statements and the Company undertakes no obligation to update statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing the Company, some of which are beyond the Company's control.

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.

Contact Information

  • Skyline Gold Corporation
    David Jensen, P.Eng.
    604-270-3858 (FAX)