Vangold Resources Ltd.
VANGOLD RESOURCES LTD. TSX-V:VAN NEWS RELEASE
VANGOLD ANNOUNCES ISSUANCE OF UNITS AND SHARES UNDER DEBT SETTLEMENT AGREEMENT WITH PAST MANAGEMENT AND SERVICE PROVIDERS
----------------------------------------------------------------------------------------------- August 6th , 2014 -- Vancouver, British Columbia - Vangold Resources Ltd ("Vangold" or the "Company") announces that after having received approval from the TSX Venture Exchange (the "Exchange"), it has completed the shares for debt settlement outlined in its press release of June 4th, 2014.
As a result, the company has issued an aggregate of 1,930,200 units at a deemed price of $0.13 to six separate creditors. Each unit will consist of one common share and one full warrant with an exercise price of $0.15 and a two year expiry. The company has also issued an aggregate of 848,000 common shares at a deemed price of $0.05 to one member of past management where no warrants will be attached. The amount of indebtedness settled by the transactions is $361,567.06. The common shares issued are subject to a hold period pursuant to the policies of the Exchange and BC Securities Commission. The hold period will expire on November 29th, 2014.
Vangold will also issue 977,779 bonus common shares owed in consideration of two past lenders. The shares were required following the closing of the debts which occurred in the first quarter of 2014. Following the completion of the proposed shares for debt transaction and the issuance of bonus shares, Vangold will have an estimated 24,081,820 outstanding common shares.
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.
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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