Molybdenum

Molycor Gold Corp. (CVE:MOR) that it has completed its non-brokered private placement of 12,220,000 units.

Molycor Gold Corp. (TSXV:MOR) that it has completed its non-brokered private placement of 12,220,000 units .

Each Unit is comprised of one common share in the capital of the Company plus a two year share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one common share at a price of $0.10 per share at any time up to 5:00 pm (Vancouver time) on October 14, 2012. All of the securities issued pursuant to this private placement will have a hold period expiring four months and one day after the closing date. The proceeds of this Private Placement will be used toward general working capital. The Company has paid finders’ fees totaling $54,400 and issued 16,000 broker warrants, in connection with the private placement.

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Click here to access Molycor Gold Corp. Corporate Site

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