SolidusGold Inc.

March 02, 2015 09:30 ET

SolidusGold Inc Announces Appointment of Interim CFO and Closing of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 2, 2015) - SolidusGold Inc. ("SolidusGold" or the "Company") (TSX VENTURE:SDC) announces that Mr. Wylie Hui has resigned as Chief Financial Officer of the Company in order to dedicate more time to his other business commitments. The Company wishes to thank Mr. Hui for his contributions and sincerely wish him well.

Ms. Kara Norman has been appointed as the Company's Chief Financial Officer on an interim basis. Ms. Norman is a Certified Management Accountant (CMA) with extensive experience in financial reporting for exploration companies. She previously held the role of Controller for the Company.

The Company is pleased to announce that it has completed the non-brokered private placement previously announced on February 4, 2015. The Company issued 1,033,338 common shares at a price of $0.15 per share, raising gross proceeds of $155,000.

The proceeds from the private placement will be used for general working capital.

Steven Khan, Rick Van Nieuwenhuyse, Raj Chowdhry and Ken Collison acquired shares under the private placement. Their participation is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101. The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any shares issued to them, or the consideration paid, exceeded 25% of the Company's market capitalization. The shares issued in the private placement are subject to a four month hold period that expires on July 3, 2015.

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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