SnipGold Corp.
TSX VENTURE : SGG

SnipGold Corp.

May 22, 2015 13:46 ET

SnipGold Closes First Tranche of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 22, 2015) - SnipGold Corp. (TSX VENTURE:SGG) ("SnipGold" or the "Company") is pleased to announce, subject to TSX Venture Exchange approval, that it has closed the first tranche of the financing announced on May 12, 2015 (the "Financing"), totaling 3,300,000 Non Flow-Through ("NFT") units for gross proceeds of $165,000.

Each NFT unit is priced at $0.05 and consists of one NFT common share and one non-transferable warrant of the Company. Each warrant will entitle the holder to purchase one NFT common share of the Company at $0.05 per share for a period of 24 months from the closing of the first tranche.

All securities issued in connection with the Financing will be subject to a four month hold period in accordance with applicable Canadian securities laws.

The Flow Through ("FT") and NFT portions of the Financing remain open to investors. The majority of the anticipated FT proceeds are intended for field and field related activities, and the NFT proceeds are expected to fund general corporate purposes.

About SnipGold

SnipGold Corp. is a Canadian company focused on the exploration and expansion of gold resources in northwest British Columbia. SnipGold's board and management have significant experience in discovery, exploration and development of gold projects.

On Behalf of the Board of Directors

SnipGold Corp.

John Zbeetnoff, Chief Executive Officer

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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