{"id":813,"date":"2010-12-24T14:17:27","date_gmt":"2010-12-24T19:17:27","guid":{"rendered":"http:\/\/metroactive.org\/wordpress\/?p=813"},"modified":"2010-12-24T14:17:27","modified_gmt":"2010-12-24T19:17:27","slug":"niogold-completes-7-5-million-offering","status":"publish","type":"post","link":"https:\/\/metroactive.org\/wordpress\/2010\/12\/24\/niogold-completes-7-5-million-offering\/","title":{"rendered":"NioGold Completes $7.5 Million Offering"},"content":{"rendered":"

NioGold Completes $7.5 Million Offering<\/strong><\/p>\n

December 23, 2010<\/p>\n

Vancouver, BC \u2013 NioGold Mining Corporation (TSX-V: NOX).<\/strong>\u00a0 Further to its news releases of November 15 and December 16, 2010, NioGold is pleased to announce that it has closed its brokered private placement, led by Northern Securities Inc., for gross proceeds of $7,040,660 and a non-brokered President’s List private placement for gross proceeds of $454,740.\u00a0 Due to demand, the offering was increased by $1 million over the originally planned $6.5 million.<\/p>\n

NioGold issued a total of 6,566,843 Flow Through Common Shares at a price of $0.38 per share for gross proceeds of $2,495,400, and 15,625,000 Units at a price of $0.32 for gross proceeds of $5,000,000.\u00a0 Each Unit was comprised of one common share and one-half of a warrant, each whole warrant entitling the holder to purchase a further common share at a price of $0.48 for a period of two years.<\/p>\n

The Company paid a cash commission of $455,346 and issued 1,469,661 Agent’s Options to Northern and its selling group.\u00a0 The Company also paid $5,229 and issued 13,760 Agent’s Options in payment of finder’s fees on President’s List subscriptions.\u00a0 Each Agent’s Option is exercisable to acquire a Unit at a price of $0.32 per Unit.\u00a0 1,370,821 of the Agent’s Options have a term of 14 months and may not be exercised in the first 6 months.\u00a0 The remaining 112,600 Agent’s Options have a term of 24 months and no exercise restriction.<\/p>\n

All securities issued are subject to a hold period expiring on April 24, 2011.\u00a0 The Company will use the proceeds for property exploration and for general working capital.<\/p>\n

NioGold Mining Corporation \u2013 \u00ab On Canada\u2019s Golden Highway \u00bb<\/strong><\/p>\n

NioGold Mining Corporation is a mineral exploration company focused on GOLD.\u00a0 The Company\u2019s flagship projects are located in the Cadillac – Malartic – Val-d\u2019Or stretch of the prolific Abitibi gold mining district, Quebec.\u00a0 The Cadillac – Malartic – Val-d\u2019Or area has produced over 45M ounces of gold since the 1930\u2019s and presently encompasses eight producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining).\u00a0 NioGold\u2019s land holdings within the Abitibi presently cover 115 km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold.\u00a0 NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.\u00a0\u00a0<\/p>\n

NioGold\u2019s experienced and qualified technical team will ensure the successful advancement of the Company\u2019s projects towards the highest quality mineral resources.\u00a0 NioGold invites you to visit the company website at www.niogold.com<\/a>.\u00a0<\/p>\n

This news release was prepared by Rock Lefran\u00e7ois, P.Geo. (OGQ), the Company\u2019s President & COO and Qualified Person as defined by National Instrument 43-101.\u00a0 For information on NioGold Mining Corporation contact:<\/p>\n

Michael A. Iverson, Chairman & CEO\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\nmiverson@niogold.com<\/a>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\nTel: (604) 856-9887\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\nToll-free: (877) 642-6200<\/p>\n

Dale Paruk, Vice-President
\ndparuk@niogold.com<\/a>
\nTel: (604) 662-4505<\/p>\n

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the polices of the TSX Venture Exchange), nor the Frankfurt Stock Exchange, accepts responsibility for the adequacy or accuracy of this news release.<\/p>\n

FOWARD-LOOKING STATEMENTS<\/p>\n

This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.<\/p>\n

CAUTIONARY NOTE TO U.S. INVESTORS<\/p>\n

The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms in this news release, such as \u2018measured resources\u2019, \u2018indicated resources\u2019\u00a0 and\u00a0 \u2018inferred resources\u2019, which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. investors are urged to consider closely the disclosure in our Form 20-F. The news release contains information about adjacent properties on which we have no right to explore or mine. U.S. investors are cautioned that mineral deposits on adjacent properties may not be indicative of mineral deposits on our properties.<\/p>\n

For further information please contact:
\nDale Paruk
\nNioGold Mining
\nTel: 604-662-4505
\nToll-free 1-877-642-6200
\nEmail: dparuk@niogold.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

NioGold Completes $7.5 Million Offering December 23, 2010 Vancouver, BC \u2013 NioGold Mining Corporation (TSX-V: NOX).\u00a0 Further to its news releases of November 15 and December 16, 2010, NioGold is pleased to announce that it has closed its brokered private placement, led by Northern Securities Inc., for gross proceeds of…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-813","post","type-post","status-publish","format-standard","hentry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts\/813","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/comments?post=813"}],"version-history":[{"count":0,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/posts\/813\/revisions"}],"wp:attachment":[{"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/media?parent=813"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/categories?post=813"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/metroactive.org\/wordpress\/wp-json\/wp\/v2\/tags?post=813"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}