Brisbane, Nov 5, 2008 AEST (ABN Newswire) - The directors of D'Aguilar Gold Limited (ASX:DGR) advise that they have entered agreements to raise A$579,500. The funds will be raised by the placement of 11,590,000 ordinary shares at 5.0 cents each. It is expected that these funds will be received and the shares issued by 14 November 2008.
The purpose of the Placement is to raise funds to provide working capital to progress the Company's existing exploration projects and the identification and exploration of new projects. An update on D'Aguilar's projects was included in the recently released Annual Financial Report and Quarterly Report.
Shareholder approval is being sought at the Company's upcoming AGM (12.00pm, 28 November 2008) for the issue of up to 10.0m ordinary shares as follows:
- up to Seven Million and Two Hundred (7,200,000) fully paid ordinary shares at an issue price of five cents ($0.05) per share, to sophisticated or professional investors
- up to two million (2,000,000) fully paid ordinary shares in the capital of the Company at an issue price of five cents (A$0.05) per share to Mr Nicholas Mather (or his nominee)
- up to four hundred thousand (400,000) fully paid ordinary shares in the capital of the Company at an issue price of five cents (A$0.05) per share to Mr Ian Levy (or his nominee)
- up to four hundred thousand (400,000) fully paid ordinary shares in the capital of the Company at an issue price of five cents (A$0.05) per share to Mr Vincent Mascolo (or his nominee)
Contact
Mr Nicholas Mather
Managing Director
Tel: +61-7-3303-0680
Mob: +61-417-880-448
Mr Greg Runge
General Manager - DGR Group
Tel: +61-7-3303-0680
Mob: +61-418-546-739
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