GoGold Resources Inc. (TSX: GGD) is pleased to announce the successful completion of its early warrant exercise incentive program as described in a press release dated June 20, 2014. In connection with the Warrant Incentive Program, 6,046,650 Warrants were exercised, providing gross proceeds of $9,131,940 to the Company and resulting in the Company issuing 6,696,756 Common Shares.
Terry Coughlan, President and CEO of GoGold stated, “We would like to thank those who participated in the program. With these additional funds we are in a strong financial position to move the Santa Gertrudis gold mine project forward to production. A Preliminary Economic Assessment Study (PEA) is underway using the recently completed NI 43-101 resource report for the project. We expect our contractor will complete the PEA in next three to five weeks. We anticipate we will be moving directly into the permitting and engineering studies when the PEA is completed.”
The remaining Warrants that were not exercised under the Warrant Incentive Program will continue to entitle the holder to acquire one Common Share at the exercise price of $1.50 per Common Share until January 24, 2015 in accordance with its terms and the terms of the warrant indenture governing the Warrants.
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