Vancouver, BC – August 8, 2012 – Corex Gold Corp. (the “Company”) is pleased to advise it has subject to TSX Venture Exchange approval, completed, a non-brokered private placement for 13,481,250 units (the “Units”) at a price of $0.08 per Unit (the “Financing”). Each Unit consists of one common share and one share purchase warrant (the “Warrant”). Each Warrant entitles the holder to subscribe for one common share at a price of $0.15 for a period of twenty four (24) months following the closing of the Financing.
The net proceeds from the issuance of the Units of the Financing will be used by the Company for expenditures on the Company’s Santana Project in Mexico.
Finders’ fees of 7% cash of the gross proceeds received by the Company from the sale of Units sold pursuant to the Financing shall be payable. In addition the Company shall grant compensation options entitling the holder to purchase that number of Units equal to 10% of the total number of Units sold pursuant to the Financing, exercisable in whole or in part at the price of the Units for a period of 24 months from the closing of the Financing.
All securities issued pursuant to the Financing will be subject to a four month and one day hold period from the date of closing of the Financing.
About Corex Gold Corp
Corex Gold Corp is a Canadian resource company focused on the acquisition, exploration, and development of precious metal deposits in Mexico. Corex is currently developing its flagship property, the Santana Project, which is a new discovery in Sonora, Mexico. In addition, Goldcorp Inc. (TSX:G – NYSE:GG) has implemented an on-going exploration program on Corex’s 100% owned Zuloaga property in Zacatecas, Mexico.
ON BEHALF OF THE BOARD
“Craig D. Schneider”
President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
President & CEO
E-mail: [email protected]
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.” The foregoing information may contain forward-looking statements relating to the future performance of Corex Gold Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Corex Gold Corp.’s filings with the appropriate securities commissions.
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