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Canadian Gold Hunter Completes Cdn $4.3 Million Private Placement
Nov 23, 2006 - 04:46 ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 23, 2006) - Canadian Gold Hunter Corp. (the "Company") (TSX:CGH) is pleased to report that it has closed the private placement announced on October 20, 2006. The Company sold on a non-brokered, private placement basis, 2 million Flow-Through Common Shares at a price of Cdn $1.50 per Flow-Through Share and 1 million Common Shares (Non Flow-Through) at a price of Cdn $1.30 per Common Share for total gross proceeds of up to Cdn $4.3 million.
A 4% finders' fee was payable on a portion of the private placement. The private placement has received regulatory approval and the securities have been issued to the investors. The securities issued pursuant to the private placement are subject to a hold period expiring four months from the date of closing.
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
RRichard J. Bailes, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian Gold Hunter Corp.
(604) 689-4250 (FAX)