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Canadian Gold Hunter Announces Cdn $3.4 Million Private Placement
May 30, 2005 - 12:49 ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 30, 2005) - Canadian Gold Hunter Corp. (TSX:CGH)) (the "Company") is pleased to announce that it has agreed to sell, on a best efforts, private placement basis, up to 3,500,000 Flow-Through Common Shares at a price of Cdn $0.90 per share and up to 312,500 Common Shares (Non Flow-Through) at a price of Cdn $0.80 per share for total gross proceeds of up to Cdn $3,400,000.
Toll Cross Securities Inc. and Dundee Securities Corporation will act as agents in connection with the private placement. The private placement is subject to regulatory approval.
The gross proceeds of the Flow-Through Shares shall be used for the exploration of the Company's Canadian exploration projects. The Company will use its best efforts to ensure that the exploration expenditures qualify for the investment expenditure credits for purposes of the Income Tax Act (Canada). The gross proceeds of the Common Shares (Non Flow-Through) will be used for general working capital purposes.
ON BEHALF OF THE BOARD
Richard J. Bailes, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian Gold Hunter Corp.
(604) 689-4250 (FAX)