NioGold Announces $6,000,000 Bought Deal
November 15, 2010
Vancouver, BC -- NioGold Mining Corporation (TSX-V: NOX) is pleased to announce that it has arranged a private placement with Northern Securities Inc. for gross proceeds of $6.0-million with a bought deal commitment from Northern Financial Corporation. The private placement is subject to Northern Securities completing due diligence and other customary closing conditions.
The offering will consist of $4,000,000 in Units and $2,000,000 in Flow-Through shares, at a price of $0.32 per Unit and $0.38 per Flow-Through Share. Each Unit will consist of one Common Share and one-half of a Warrant, with each whole Warrant entitling the holder to acquire one Common Share at an exercise price of $0.48 for a period of two years. The Company may also raise up to an additional $500,000 through the issuance of Units and Flow-Through Shares on a non-brokered basis.
The offering remains subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the private placement will be subject to a four-month hold period. The funds raised from the offering will be used to finance exploration and for general working capital purposes.
NioGold Mining Corporation – « On Canada’s Golden Highway »
NioGold Mining Corporation is a mineral exploration company focused on GOLD. The Company’s flagship projects are located in the Cadillac - Malartic - Val-d’Or stretch of the prolific Abitibi gold mining district, Quebec. The Cadillac - Malartic - Val-d’Or area has produced over 45M ounces of gold since the 1930’s and presently encompasses eight producing gold mines and a major mine development project (Canadian Malartic, Osisko Mining). NioGold’s land holdings within the Abitibi presently cover 115 km2 and encompass three former gold producers, namely the Norlartic, Kierens (First Canadian), and Marban mines that collectively produced 600,000 ounces of gold. NioGold has outlined Indicated resources of 598,000 ounces gold and Inferred resources of 361,000 ounces gold in and around these deposits.
NioGold’s experienced and qualified technical team will ensure the successful advancement of the Company’s projects towards the highest quality mineral resources. NioGold invites you to visit the company website at www.niogold.com.
This news release was prepared by Rock Lefrançois, P.Geo. (OGQ), the Company’s President & COO and Qualified Person as defined by National Instrument 43-101. For information on NioGold Mining Corporation contact:
Michael A. Iverson, Chairman & CEO
miverson@niogold.com
Tel: (604) 856-9887
Toll-free: (877) 642-6200
