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Threegold Resources Inc.: Threegold Resources Completes the First Closing of a $600,000 Private Placement

^{Published on 2009-07-14 11:05:51, Last Modified on 2009-07-14 11:05:57 - Market Wire}
 

VAL-D'OR, QUEBEC--(Marketwire - July 14, 2009) - Threegold Resources Inc. (TSX VENTURE:THG) ("Threegold" or the "Company") announces that it has completed the first closing of its private placement previously announced July 8th 2009 (press release July 8th 2009) of a maximum of $600,000. The first closing amounts to $150,000 including $10,000 with an insider. The private placement aimed "accredited investors", partners and close acquaintances. In connection with the first closing of the private placement, Threegold issued an aggregate of 1,500,000 units at a price of $0.10 per unit and 1,500,000 common share purchase warrants.

Each common share purchase warrant entitles the holder thereof to acquire one additional common share of Threegold at a price of $0.14 per share for a period of twelve months following the closing of the Offering, and at a price of $0.18 per share for the following twelve month period.

In connection with this private placement, Threegold paid a finder's fee of $4,160.

All of the proceeds from the private placement will be added to Threegold's working capital and will be used for general corporate purposes as well as for exploration work on the Company's existing mining exploration properties located in the Province of Quebec.

The private placement is subject to regulatory approval. In accordance with applicable securities legislation, the securities issued in connection with the private placement will be subject to a four-month hold period following the closing of the Offering.

As a result of the closing of the private placement, there are 41,424,449 common shares of Threegold issued and outstanding.

Threegold expects to close additional tranches of the private placement on or about August 14, 2009.

Threegold's common shares are listed on the TSX Venture Exchange under the symbol "THG". Investors are invited to visit the company's website at [ www.threegold.ca ].

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 the release.