TRIGOLD RESOURCES INC. (the "Company" and "Trigold") (TSX-V: "TGD") wishes to provide updated information on the proposed private placement and tenement acquisiton announced on January 31, 2014.
Trigold is pleased to announce the proposed non-brokered private placement has been oversubscribed from 5,000,000 shares up to 6,000,000 shares at a price of $0.05 per unit (the "shares") for gross proceeds of up to $300,000 (the "offering"). A portion of the private placement will be subject to a finder's fee.
The net proceeds of the private placement are for the evaluation of exploration assets and for general corporate purposes.
In addition, Trigold continues to work toward completion of a Definitive Agreement for the acquisition of a 90% interest in mineral tenements to be acquired by a Canadian Corporation that is negotiating for the tenement transfer of mineral exploration permits in Papua New Guinea (PNG). The Agreement is subject to acceptable financing and approval from the PNG Mineral Resources Authority. A Definitive Agreement is targeted for completion by March 31, 2014.
The completion of a Definitive Agreement and private placement is subject to the approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
s/ "Jim Greig"
President and Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Release ID: 34159