Vangold Resources Ltd.
VANGOLD RESOURCES LTD. TSX-V:VAN NEWS RELEASE
VANGOLD CLOSES $15,000 LOAN ARRANGEMENT ----------------------------------------------------------------------------------------------- May 14th, 2012 -- Vancouver, British Columbia - Vangold Resources Ltd ("Vangold" or the "Company") is pleased to report that the company has entered into a loan arrangement with two arm’s length participants for loans totalling $15,000. These funds will be used to cover annual filling fees, TSX Venture annual listing fees and provide minimal working capital.
The loan bears a simple interest rate of 20% per annum, which will be payable quarterly. The outstanding principal will be due and payable one year from date of receipt of funds. Vangold agrees to securitize the loan with a mortgage on the company’s properties; which will involve multiple lenders and will not exceed $50,000.
Vangold Resources Ltd. is headquartered in Vancouver, Canada, and has a diversified portfolio of mineral projects in North America, as well as oil and gas concessions in Armenia. Vangold's shares are listed on the Toronto Venture Stock Exchange under the symbol VAN and on the Frankfurt Stock Exchange under the symbol VAQ.
To find out more about Vangold Resources Ltd. please visit our website at www.vangold.ca or contact Dal Brynelsen at [email protected].
Neither 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.
Disclaimer for Forward Looking Information
This news release includes forward looking statements that are subject to assumptions, risks and uncertainties.
Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements.
Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. The Company assumes no obligation to update any forward looking statements, whether as a result of new information, future events or otherwise
7681 Prince Edward Street, Vancouver, BC, Canada V5X 3R4 T 778-828-2670 • www.vangold.ca