Q-Gold Announces Non-Brokered Private Placement
Vancouver, British Columbia, November 16, 2010 –Q-Gold Resources Ltd. (TSX VENTURE: QGR) (http://www.qgoldresources.com) announced today that it has arranged a non-brokered private placement of up to 6 million flow-through units at a price of $0.10 per unit for gross proceeds of up to $600,000. Each unit (a "Unit") consists of one flow-through common share and one non-transferable flow-through share purchase warrant, each whole warrant entitling the holder to purchase an additional flow-through common share at a price of $0.12 per share for a period of 2 years from the date of issuance.
The Company may, in its sole discretion but subject to the policies of the TSX Venture Exchange, pay a finders fee to agents of the Company consisting of up to 6% of the proceeds raised by the agent as part of this offering. The private placement is subject to the acceptance for filing of the TSX Venture Exchange.
The proceeds from the private placement will be used for further exploration and development on its Canadian properties.
About Q-Gold Resources Ltd.
Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals on its 26,000 acres of Ontario holdings in the historic Gold Camp at Mine Centre, including 5 historic gold mines. In addition, the Corporation holds options on historic gold and silver mines in the historic Arizona gold camp of Crown King, and copper prospects in eastern and western Arizona.
For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to email all questions and correspondence to [email protected] where they can also request addition to the investor email list to receive all future press releases and updates in real time.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company’s expectations and projections. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT INFORMATION Corporate Inquiries Investor Relations
Q-Gold Resources Ltd. AGORACOM Investor Relations J. Bruce Carruthers II, President http://www.agoracom.com/IR/Q-Gold 1-888-779-0166 [email protected] http://www.qgoldresources.com
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