Touchstone Gold Limited

AIM : TGL


Touchstone Gold Limited

December 06, 2012 16:30 ET

Touchstone Gold Completes C$5.5 Million Placing

TORONTO, ONTARIO--(Marketwire - Dec. 6, 2012) -

THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

Touchstone Gold Limited ("Touchstone" or the "Company") (AIM:TGL) is pleased to announce it has issued 34,427,500 units (the "Units") at a price of 10 pence (or C$0.16) per Unit for expected aggregate gross proceeds of C$5,508,400 pursuant to its previously announced issue of equity (the "Offering"). Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder thereof to acquire one additional common share of Touchstone at an exercise price of 15 pence per share until December 6, 2014.

Certain of the securities issued are subject to a hold period expiring April 7, 2013 in accordance with applicable Canadian securities laws and such further restrictions as may apply under foreign securities laws.

The net proceeds from the sale of the Units will be used for Touchstone's stage 4 exploration programme on the Rio Pescado, El Cinco, and San Miguel properties and general corporate purposes.

About Touchstone

Touchstone is a gold exploration company and its primary assets, which collectively comprise its Segovia Gold Project, are the Rio Pescado, El Cinco, San Miguel, and Frontino Norte properties along the Segovia-Remedios Gold Belt in Colombia. Rio Pescado is comprised of four mining concessions, the El Cinco property is comprised of one mining concession, the San Miguel property is comprised of one mining concession and one proposed mining concession, and the Frontino Norte property is comprised of five mining concessions. Touchstone owns further options on the Santa Rosa Project, in the South Bolivar area of Colombia, comprised of four proposed mining concessions and one mining concession. With a philosophy of creating value by the systematic exploration and development of Touchstone's existing assets as well as the acquisition of suitable exploration and development mineral projects, Touchstone's long-term intention is to build a significant gold exploration and production company.

Canaccord Genuity Limited and GMP Securities Europe LLP, each of which are authorized in the United Kingdom by the Financial Services Authority, are acting for Touchstone Gold Limited and for no one else in connection with the Placing and will not be responsible to anyone other than Touchstone Gold Limited for providing the protections afforded to clients of Canaccord Genuity Limited or GMP Securities Europe LLP (as the case may be) or for affording advice in relation to the Placing, or any other matters referred to herein.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or applicable state securities laws, and may not be offered or sold to, or for the account or benefit of, persons in the United States or "U.S. persons," as such term is defined in Regulation S under the U.S. Securities Act, absent registration or an exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Contact Information

  • Touchstone Gold
    David Wiley
    Chief Executive Officer
    +1 647 260 1247

    Canaccord Genuity Limited
    (Co-Lead, Joint Broker and Nominated Adviser)
    Andrew Chubb
    +44 20 7523 8350

    Canaccord Genuity Limited
    (Co-Lead, Joint Broker and Nominated Adviser)
    Adam Miller
    +44 20 7523 8350

    GMP Securities Europe LLP (Co-Lead)
    Andrew Young
    +44 20 7647 2800

    Northland Capital Partners Limited (Joint Corporate Broker)
    Gavin Burnell
    +44 20 7796 8800

    Northland Capital Partners Limited (Joint Corporate Broker)
    Edward Hutton
    +44 20 7796 8800

    Northland Capital Partners Limited (Joint Corporate Broker)
    John-Henry Wicks
    +44 20 7796 8800

    College Group
    David Simonson
    +44 20 7457 2020

    College Group
    Anca Spiridon
    +44 20 7457 2020