Stakeholder Gold Corp.
TSX VENTURE : SRC

Stakeholder Gold Corp.

August 11, 2011 14:55 ET

Stakeholder Closes $287,000 Private Placement

DAWSON CITY, YUKON--(Marketwire - Aug. 11, 2011) - Stakeholder Gold Corp. (TSX VENTURE:SRC) has closed a non-brokered private placement for total gross proceeds of $287,000. The Company issued 820,000 units at a purchase price of $0.35 per unit, with each unit consisting of one common share and one half of one common share purchase warrant with each whole warrant entitling the holder thereof to purchase one common share at an exercise price of $0.50 per share for a 12 month period ending August 9, 2012.

The securities sold under the private placement were issued pursuant to exemptions from the prospectus and registration requirements of applicable securities laws, subject to the receipt of necessary regulatory approvals and to a four month hold period ending December 10, 2011. The proceeds from the private placement will be used by Stakeholder to advance its exploration projects within Yukon and for general working capital.

In accordance with the TSX Venture Exchange guidelines, finder's fees of $20,090 were paid in cash. Stakeholder also issued 65,600 non-transferable agent's options that entitle the agent to purchase common shares at a price of $0.35 per agent's option for a 12 month period ending August 9, 2012.

Due to the current market conditions, Stakeholder will not proceed with the rest of the private placement announced on the July 22, 2011 press release.

About Stakeholder Gold Corp.:

Stakeholder is a newly listed company created by the spin out of Hinterland Metals Inc.'s Yukon gold assets. Its main project is the drill-ready, fully permitted Ballarat gold property located in the White Gold district of Yukon approximately 90km south of Dawson City.

Shares Issued 27,146,641

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.

Contact Information

  • Mark Fekete
    President and CEO
    Toll Free 1-800-610-9552 or 778-785-3159