TAC Gold Corp.
CNSX : TCG

TAC Gold Corp.

March 01, 2012 09:30 ET

TAC Gold Corp. Announces Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2012) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

TAC Gold Corp. (CNSX:TCG) ("TAC" or "TAC Gold") is pleased to announce a non-brokered private placement of up to 4,000,000 units of TAC Gold ("Units"), at a price of $0.05 per Unit, for gross proceeds of up to $200,000 (the "Offering"). Each Unit will consist of one common share of TAC ("Common Share"), and one half common share purchase warrant ("Warrant"), with each whole Warrant entitling the holder thereof to purchase one common share of TAC (a "Warrant Share") at a price of $0.15 per Warrant Share for a period of one year following the closing of the Offering.

Shares acquired by the placees, and shares which may be acquired upon the exercise of the Warrants, will be subject to a hold period of four months plus one day from the date of completion of the financing in accordance with applicable securities legislation. Proceeds from this private placement will be used to fund exploration and development activities on the Company's mineral properties and for general working capital.

This private placement replaces that previously announced by the Company on August 30, 2011.

Advisory: Forward-Looking Information: Certain information regarding TAC Gold set forth in this news release, including the closing of the Offering and the use of proceeds of the Offering, may constitute forward-looking statements under applicable securities laws and necessarily involve substantial known and unknown risks and uncertainties. The forward-looking statements contained in this document are made as at the date of this news release and TAC Gold does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Contact Information

  • TAC Gold Corp.
    Sean McKay
    CFO
    604-730-0234

    TAC Gold Corp.
    Greg Thomas
    CEO
    604-730-0234
    www.tacgold.com