Threegold Announces a $500,000 Private Placement

Threegold Resources Inc. (TSXV:THG) announced that it is currently proceeding with a private placement. According to the terms of the placement, the company plans to raise up to $500,000 by issuing 10,000,000 units at a price of $0.05 per unit.

The press release is quoted as saying:

Each unit will be comprised of one (1) common share of the company and one share purchase warrant entitling the holder to purchase one additional common share of the company at a price of $0.10 for a period of one year following the closing. The closing of the placement is expected to occur within the next week.

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