News Release
For Immediate Release
TSX Venture Exchange: MNI
August 30, 2012 – Lethbridge, Alberta – MGold Resources Inc. ("MGold" or the "Corporation") is pleased to announce that it intends to sell a minimum of 4,000,000 and a maximum of up to 10,000,000 common shares ("Common Shares") by way of non-brokered private placement to raise gross proceeds for the Corporation of between $200,000 and $500,000 (the "Private Placement"). Net proceeds from the Private placement will be used for acquisition or farm-in of producing oil and gas properties and for general corporate purposes.
The Private Placement is non-brokered, but the Corporation may pay a finder's fee of up to 7% in cash or shares to arm's length parties who assist with the placement of Common Shares. The Private Placement is scheduled to close on or about October 31, 2012 and is subject to normal approvals by the TSX Venture Exchange.
Forward Looking and Cautionary Statements
This news release contains certain forward‐looking statements (forecasts) under applicable securities laws relating to future events or future performance. Forward‐looking statements are necessarily based upon assumptions and judgments with respect to the future. In some cases, forward‐looking statements can be identified by terminology such as “may”, “will”, “should”, “expect”, “projects”, “plans”, “anticipates” and similar expressions. These statements represent management’s expectations or beliefs concerning, among other things, future operating results and various components thereof affecting the economic performance of MGold. Undue reliance should not be placed on these forward‐looking statements which are based upon management’s assumptions and are subject to known and unknown risks and uncertainties, including the business risks discussed above, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward‐looking statements. Accordingly, readers are cautioned that events or circumstances could cause results to differ materially from those predicted. These statements speak only as of the date specified in the statements.
The Company’s actual results could differ materially from those anticipated in the forward looking statements contained throughout this news release as a result of the material risk factors set forth below:
These factors should not be construed as exhaustive. Unless required by law, the Company does not undertake any obligation to publicly update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
There is no certainty that any portion of the resources will be discovered. If discovered, there is no certainty that it will be commercially viable to produce any portion of the resources.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
MGold Resources Inc. is a Lethbridge, Alberta based corporation engaged in the exploration for minerals. The Corporation's common shares are listed on the TSX Venture Exchange under the trading symbol "MNI".
For further information please contact:
John Squarek
President and Chief Executive Officer
Phone: 403-388-0969
Email:
This email address is being protected from spambots. You need JavaScript enabled to view it.