Fire River Announces Closing of Final Tranche of BayFront Financing and Closing of Private Placement with Sunel Securities for
20 Settembre 2012 - 3:41PM
PR Newswire (Canada)
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
U.S. WIRE SERVICES/ FAU: TSXV FVGCF: OTCQX FSE: FWR VANCOUVER,
Sept. 20, 2012 /CNW/ - Fire River Gold Corp. (the "Company")
(OTCQX: FVGCF) announces that it has closed the third and final
tranche of its previously announced brokered private placement
financing with BayFront Capital Partners Ltd. ("BayFront") as well
as its previously announced brokered private placement financing
with Sunel Securities Inc. ("Sunel") (the "Offerings"). The
Company issued an aggregate of 108,694,492 Units at a price of
$0.065 per Unit for aggregate gross proceeds of
$7,065,141.98. Each Unit consists of one common share
("Common Share") and one common share purchase warrant (a
"Warrant"). Each Warrant entitles the purchaser to subscribe
for one additional common share (a "Warrant Share") at an exercise
price $0.10 per Warrant Share for a period of five years. The
Company paid BayFront and Sunel who acted as lead Agents for each
Offering, respectively, and certain finders assisting with the
Offerings, an aggregate of $409,864.09 and issued 6,305,603
compensation options (each, a "Compensation Option") as commission
in connection with the Offerings. Each Compensation
Option is exercisable into one Unit at a price of $0.065 for a
period of five years. The proceeds from the Offerings will be used
for the further development of the Company's Nixon Fork mine,
satisfaction of outstanding debt and general working capital. All
Common Shares, Warrants, and Compensation Options, carry a
four-month hold period restricting them from trading until January
20, 2013. About Fire River Gold Fire River Gold Corp. is Alaska's
newest gold producer, with a projected 30,000 ounces per year of
gold to be produced on its wholly owned Nixon Fork Gold Mine
located in the resource rich Tintina Gold Belt. Operations started
in July 2011, with a near term production target of 30,000 oz/Au by
end of year 2012, projecting an increase to 40,000 oz/Au per year
in 2013, ramping up to a projected 50,000 ounces in 2014. This
year-round mine program is producing both concentrate and doré
bars. Fire River Gold has fantastic growth potential, with
excellent targets identified to grow its current high grade
resource. Coupled with a strong management team and board of
directors, Fire River has a bright future ahead. Cautionary Note
Regarding Forward-Looking Statements Certain statements contained
in this news release constitute "forward-looking information" as
such term is used in applicable Canadian securities laws, including
with respect to the use of proceeds of the Private Placement.
Forward-looking information is based on plans and estimates of
management at the date the information is provided and certain
factors and assumptions of management. Forward looking information
is subject to a variety of risks and uncertainties and other
factors that could cause plans, estimates and actual results to
vary materially from those projected in such forward-looking
information. Factors that could cause the forward-looking
information in this news release to change or to be inaccurate
include, but are not limited to, the risks related to
unsatisfactory results of due diligence, international operations
and doing business in foreign jurisdictions, risks associated with
mineral exploration and development activities generally, the risk
of commodity price and foreign exchange rate fluctuations, and
risks and uncertainties associated with securing and maintaining
necessary regulatory approvals. The Company does not undertake to
update any forward-looking information except in accordance with
applicable securities laws. Fire River Gold Corp. CONTACT: Tel: 604
261 0580Email:info@firerivergold.com or visit
www.firerivergold.comSuite 340-1200 West 73rd Ave, Vancouver, B.C.,
Canada V6P 6G5
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