Vancouver, British Columbia – Further to its previous news releases (see November 13 and December 19, 2013) Cortez Gold Corp (TSXV:CUT) (“Cortez” or the “Company”) announces that it will increase its private placement by increasing the size of the offering to 5.5 million units, for gross proceeds of $1.1 million. The pricing remains unchanged at $0.20 per unit (a “Unit”) with each Unit consisting of one common share of the Company and one-half of one share purchase warrant (a “Warrant”) with each whole Warrant entitling the holder to acquire an additional common share of the Company at $0.40 per share for a period of 24 months after issuance. The Warrants will be subject to an accelerated expiry should the common shares of the Company close at a minimum of $0.60 for a period of twenty (20) consecutive trading days on the TSX Venture Exchange (“TSXV”).
Net proceeds of the private placement will be applied towards working capital and general corporate purposes, and will be used to advance the Company’s projects in Mexico.
Further to the TSXV bulletins of December 27th and 30th, 2013 granting final acceptance on a portion of the private placement, the Company will be closing Tranche 1 shortly.
The proposed increase to the private placement is subject to TSX Venture Exchange acceptance.
ON BEHALF OF THE BOARD
of Cortez Gold Corp.
(sgd.) “Robert Eadie”
Robert Eadie, President
For further information please contact:
Robert Eadie, President
Cortez Gold Corp.
Suite 750, 580 Hornby Street, Box 113
Vancouver, British Columbia V6C 3B6
Tel: (604) 602-4935 Fax: (604) 602-4936
Email: [email protected]
Menu
Menu
