Luiri Gold Completes Private Placement
24 10월 2011 - 4:56PM
Marketwired
Emerging African gold developer Luiri Gold Limited (ASX:LGM)(TSX
VENTURE:LGL) ("Luiri" or the "Company") is pleased to announce the
following:
-- Further to the announcement filed on 29 August 2011, the Company advises
that it has completed the private placement of 10,000,000 fully paid
common shares at a price of AUD$0.115 (the "Private Placement"). The
Private Placement was completed on a non-brokered basis and resulted in
proceeds to Luiri of AUD$1,150,000.
-- The Company has finalized a services and strategic relationship
agreement (the "Services Agreement") with an international consulting
firm (the "Consultant").
Private Placement
The common shares issued under the Private Placement will be
traded in the form of CHESS Depositary Interests ("CDIs") upon the
Australian Stock Exchange ("ASX"). The common shares issued under
the Private Placement are subject to a statutory hold period under
applicable Canadian securities laws of four months and a day from
the date of closing. An ASX Appendix 3B in relation to this issue
was lodged with ASX on 29 August 2011 and is available on the
Company's website.
The Company intends to use the proceeds raised from the Private
Placement for general working capital and to fund the Company's
activities in Zambia, including its recently reinstated Large Scale
Mining License LML 48, which contains the Matala and Dunrobin gold
deposits in the Company's Luiri Hill Gold Project.
Service Agreement
During the two year term of the Services Agreement, the
Consultant will provide a range of services to the Company in
Zambia, including government relations and lobbying efforts;
provision of general corporate and strategic advice; public
relations services; advice with regard to acquisition and
maintenance of mineral licenses and other mineral interests; and
general business development services.
ABOUT LUIRI GOLD
Gold Exploration and Development
Luiri Gold Limited is a developing, gold resource company
dedicated to creating shareholder value through the acquisition,
exploration and development of resource projects in Africa. Luiri
Gold's wholly-owned Zambian subsidiary, Luiri Gold Mines Ltd.,
holds the rights to the Luiri Hill Gold Project in southern-central
Zambia.
Known Gold Mineralisation
The Luiri Hill Gold Project area has shown significant gold
potential both of the structurally controlled mineralization
(Matala style) within the basement rocks of the Matala Dome and a
combination of structural and chemically controlled mineralization
(Dunrobin style) adjacent to the Matala Dome within the surrounding
carbonates of the surrounding Katangan rocks.
Proven Management
The Company has assembled an experienced Board of Directors and
technical team to drive the exploration and development process
under the leadership of Chairman, Melissa Sturgess, who has
extensive experience in Africa.
On behalf of the Board of Directors of the Company,
Mike Langoulant, Director and Corporate Secretary
ARBN 139 588 926
Neither the 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.
Contacts: Luiri Gold +61 8 6313 5155 +61 8 9324 2977
(FAX)info@luirigold.comwww.luirigold.com Media and Investor
Inquiries: Purple Communications Karen Oswald / Greg Galton +61 8
6314 6300KOswald@purplecom.com.au
Luiri Gold Limited (TSXV:LGL)
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Luiri Gold Limited (TSXV:LGL)
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