StrikePoint Gold Closes $7,188,984 Private Placement
Thursday, 17 Dec 2009 12:45pm EST

StrikePoint Gold announced that the Private Placement announced and amended in press releases dated November 26, 2009 and November 30, 2009, respectively, has closed. The Private Placement, led by Dundee Securities Corporation and including PI Financial Corp. (the Agents) included the sale of 4,687,200 common shares issued on a flow-through basis at a price of $0.47 per Flow-Through Common Share for gross proceeds of $2,202,984 and the sale of 12,465,000 non-flow-through units (the Units) at a price of $0.40 per Unit for gross proceeds of $4,986,000, each Unit being comprised of one common share and one-half of one transferable common share purchase warrant. Each full warrant is exercisable into one common share of the Corporation at an exercise price of $0.60 for a period of 24 months from the closing date. The total gross amount raised in the Offering was $7,188,984. The sale of 12,465,000 Units represents a 125,000 Unit increase over the amount announced in StrikePoint's press release of November 30, 2009. The Company intends to use the net proceeds for exploration of its mineral properties located in Manitoba. Expenditures from the Flow-Through Common Shares will constitute Canadian exploration expenses and will be renounced for the 2009 taxation year.