SnipGold Proposes $700,000 Financing
SnipGold Corp. (TSX-V: SGG) (“SnipGold” or the “Company”) (formerly Skyline Gold Corporation) is pleased to
announce, subject to TSX Venture Exchange (“TSX-V”) approval, a non-brokered private placement of flowthrough
units (“FT Units”) and non-flow-through units (“NFT Units") of the Company for combined gross proceeds
of up to $700,000.
FT Units:
Each FT Unit is priced at $0.20 and will consist of one flow-through common share and one-half of one nontransferable
flow-through warrant of the Company. Each whole warrant (a "FT-Warrant") will entitle the holder to
purchase one flow-through common share of the Company at $0.30 per share for a period of 24 months after the
closing of the private placement.
If at any time after four months and one day following the closing of the private placement, the Company's common
shares trade on the TSX-V at a closing price of $0.60 per share or greater for a period of 10 consecutive trading
days, the Company may accelerate the expiry date of the FT-Warrants by giving written notice to the holders
thereof and in such
Shares Outstanding: 20,477,000
