Vedron Gold Inc.

Vedron Gold Inc.

July 28, 2005 15:12 ET

Vedron Gold Inc. Financing Announcement Update

TORONTO, ONTARIO--(CCNMatthews - July 28, 2005) - Vedron Gold Inc. (VG:TSX V) today announced that its non-brokered private placement previously announced on July 26, 2005 is being increased from up to 4,000,000 to up to 5,000,000 common share units. All other terms of the private placement remain the same. The full details of the revised offering are below.

Up to 5,000,000 common share units of the Company at $0.15 per unit for a total gross proceeds of $750,000 are being offered through a non-brokered private placement. Each unit consists of one common share and one-half of one common share purchase warrant. Each full warrant entitles the holder to purchase one common share of the Company at a price of $0.20 per share for a period of 18 months following the closing date. The private placement is subject to regulatory approval. Gross proceeds from the private placement will be used for work on the Company's mineral properties in Ontario and working capital. The shares will be subject to a four month hold period. Registered selling agents will be entitled to receive a finder's fee of 10% of the number of units subscribed for.

Insiders of the Company are anticipated to subscribe for greater than 25% of the private placement.

SHARES: 43,808,947

The TSX Venture Exchange has neither approved nor disapproved the information contained herein and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Vedron Gold Inc.
    Thomas Meredith
    (416) 368-0099
    (416) 368-1539 (FAX)