True Gold Mining Inc.

TSX VENTURE : TGM


True Gold Mining Inc.

February 14, 2014 16:54 ET

True Gold Mining Inc. Announces Underwriters' Intention to Exercise Over Allotment Option

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 14, 2014) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

True Gold Mining Inc. ("True Gold" or the "Company") (TSX VENTURE:TGM) today announced that the underwriters of its previously announced public offering (the "Bought Deal Offering") of 91,400,000 units (the "Units") have indicated their intention to exercise in full their over-allotment option to purchase an additional 13,710,000 Units at a price of $0.40 per Unit, bringing the aggregate gross proceeds of the offering to approximately $42.0 million. The closing of the Units issuable pursuant to the exercise of the over-allotment option is expected to occur on February 18, 2014, concurrently with the closing of the Bought Deal Offering. The Bought Deal Offering was underwritten by a syndicate led by RBC Capital Markets and including BMO Nesbitt Burns Inc., Haywood Securities Inc., National Bank Financial Inc., Clarus Securities Inc., Scotia Capital Inc., Cormark Securities Inc. and PI Financial Corp.

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 state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.

On behalf of the Board:

Mark O'Dea, Executive Chairman

Neither 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.

Cautionary Note Regarding Forward-Looking Statements

This press release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, use of proceeds of the offerings, and information with respect to future exploration and development plans concerning the Karma and Liguidi projects. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", "estimates", "intends", "anticipates" or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made at the date that such statements are made. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including a need to reallocate the use of proceeds of the Offering due to changes in the exploration and development plans for the Karma and Liguidi projects, or for other prudent business reasons, and the risk factors disclosed elsewhere in the Company's public disclosure. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information contained herein is presented for the purposes of assisting investors in understanding the Company's financial and operating performance and the Company's plans and objectives and may not be appropriate for other purposes. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Contact Information

  • True Gold Mining Inc.
    Mark O'Dea
    Executive Chairman
    604-632-4677