PC Gold Closes $9.1 Million Private Placement
09:44 EDT Tuesday, April 20, 2010
OTTAWA, ONTARIO--(Marketwire - April 20, 2010) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
PC Gold Inc. (TSX:PKL) ("PC Gold" or the "Company") is pleased to announce that it has closed its previously announced offering of 5,000,000 flow-through common shares (the "Flow-Through Shares") at a price of $1.82 per Flow-Through Share for total gross proceeds to the Company of $9.1 million (the "Offering"). The Offering was completed on a guaranteed agency private placement basis by Cormark Securities Inc. as lead underwriter, with a syndicate which included Canaccord Financial Ltd.
The proceeds of the Offering will be used by the Company to incur eligible Canadian Exploration Expenses, as defined under the Income Tax Act (Canada), that will be renounced in favour of the purchasers with an effective date of no later than December 31, 2010. The funds will be used for exploration on the Company's Pickle Crow property located in northwestern Ontario, Canada.
The Flow-Through Shares are subject to a hold period that will expire on August 21, 2010. The Offering remains subject to the final approval of the TSX.
The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to a U.S. person absent an exemption from the registration requirements of such Act.
FOR FURTHER INFORMATION PLEASE CONTACT:
PC Gold Inc.
Kevin M. Keough
President and Chief Executive Officer
(613) 271-2105
kevin.keough@pcgold.ca
www.pcgold.ca
PC GOLD INC. is a mineral exploration and development company incorporated for the purpose of acquiring the Pickle Crow Property. Following the completion of the Minimum Offering and Acquisition, the Pickle Crow Properties will be the Company's sole property. The Company intends to undertake a major exploration and development program on the Pickle Crow Property.
PKL.TO - Pc Gold Inc (TSX)
| Date | Open | High | Low | Last | Change | Volume | % Change |
| 04/19/10 | 1.5100 | 1.5800 | 1.5100 | 1.5100 | -0.0900 | 423110 | -5.63% |
| Composite Indicator | -- Signal -- | -- Strength -- | -- Direction -- |
| Trend Spotter (TM) | Buy | Weak | Weakest |
| Short Term Indicators | |||
| 7 Day Average Directional Indicator | Sell | Minimum | Strengthening |
| 10 - 8 Day Moving Average Hilo Channel | Sell | Minimum | Strengthening |
| 20 Day Moving Average vs Price | Sell | Minimum | Strongest |
| 20 - 50 Day MACD Oscillator | Buy | Maximum | Strongest |
| 20 Day Bollinger Bands | Hold | Bearish | |
| Short Term Indicators Average: | 40% - Sell | ||
| Medium Term Indicators | |||
| 40 Day Commodity Channel Index | Hold | Bearish | |
| 50 Day Moving Average vs Price | Buy | Average | Weakest |
| 20 - 100 Day MACD Oscillator | Buy | Maximum | Strongest |
| 50 Day Parabolic Time/Price | Sell | Average | Strongest |
| Medium Term Indicators Average: | 25% - Buy | ||
| Long Term Indicators | |||
| 60 Day Commodity Channel Index | Hold | Bearish | |
| 100 Day Moving Average vs Price | Buy | Strong | Weakest |
| 50 - 100 Day MACD Oscillator | Buy | Maximum | Strongest |
| Long Term Indicators Average: | 67% - Buy | ||
| Overall Average: | 16% - Buy | ||
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