Cangold Closes $5 Million Private Placement Fully Subscribed
CANGOLD LIMITED (TSX-V: CLD, the “Company”) reports that it has closed the second and final tranche of its non-brokered private placement financing announced on April 26, 2011. On closing, the Company issued 4,808,000 units at $0.50 per unit for gross proceeds of $2,404,000. Each unit comprises one common share and one-half of one non-transferable Series R share purchase warrant.