February 11, 2010
Continental Gold Corporation, a private company incorporated under the laws of Bermuda, completed a private placement of 19,166,667 subscription receipts at a price of $1.50 per subscription receipt for gross proceeds of $28,750,000. Upon the satisfaction of certain conditions on or before April 30, 2010, each subscription receipt will be exchanged for one common share and one-half of one common share purchase warrant of the issuer resulting from the amalgamation of Continental Gold and Cronus Resources Ltd. (TSXV: CZR).
The offering was conducted through a syndicate of agents co-led by GMP Securities L.P. and Macquarie Capital Markets Canada and included Canaccord Financial Ltd. and Haywood Securities Inc.
Wildeboer Dellelce LLP acted for the agents in connection with the offering with a team that included Rob Wortzman, Darryl Holyday and Zahar Orlov (corporate/securities).