La Ronge Gold Corp. (TSX-V:LAR) is pleased to announce that it has completed the first of its two-tranche brokered private placement. The first tranche consists of 4,000,000 common shares at a price of $0.25 per common share to raise gross proceeds of $1,000,000. The company is progressing efforts on the $6,000,000 subscription receipt raise.
Insider participation of Rasool Mohammad for 450,000 shares.
The Company has issued to the Underwriters 234,500 of non-transferable Common Share purchase warrants and $58,625 in cash commission. Each Broker Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of $0.25 per share for a period of 24 months following closing of the Offering.
All securities issued or issuable under the Offering are subject to a four-month hold period expiring on September 30, 2014, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada.
About La Ronge Gold Corp.
La Ronge is actively engaged in diversifying its mining assets portfolio into sectors other than precious metals. The intent of this strategy is to identify and acquire strategic investments that have the capability to generate cash flow with low capital expenditure costs. This mining asset diversification strategy is limited geographically to Canada at the present time. La Ronge is a Vancouver-based resource growth and development company. The Company owns high-grade gold deposits in one of Canada’s emerging gold producing regions, the La Ronge Gold Belt, northern Saskatchewan. La Ronge also holds other gold projects located in Ontario and Saskatchewan.
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