Intigold arranges $787,500 financing

2012-03-20 00:08 ET - News Release

Ms. Lori McClenahan reports

INTIGOLD MINES LTD. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Intigold Mines Ltd. has arranged a non-brokered private placement of up to 7.5 million units at a price of 10.5 cents per unit, raising gross proceeds of up to $787,500.

Each unit will consist of one common share and one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of 14 cents per share for a period of two years from closing.

The private placement is subject to regulatory approval.

The company will pay finder's fees of up to 7.5 per cent of the gross proceeds raised, payable in cash or common shares.

The proceeds of the private placement will be used for general working capital.