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Canadian Gold Hunter Announces Flow-Through Private Placement Closed
May 23, 2005 - 05:51 ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 23, 2005) - Canadian Gold Hunter Corp. (the "Company") (TSX:CGH) is pleased to announce that the Flow-Through portion of the private placement announced on June 14, 2005 has closed. The Company sold, on a non-brokered, private placement basis, 4,970,000 Flow-Through Common Shares at a price of Cdn $0.80 per share for gross proceeds of Cdn $3,976,000. The Company has received conditional regulatory approval and the securities have now been issued to the investors. 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 Company expects to close the Non Flow-Through portion of the private placement shortly.
ON BEHALF OF THE BOARD
Richard J. Bailes, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian Gold Hunter Corp.
(604) 689-4250 (FAX)