Vedron Gold Inc.: Vedron Gold Inc. financing announcement 5/18/2006
Toronto, Ontario CANADA, May 18, 2006 (M2 PRESSWIRE via COMTEX News Network) -- Vedron Gold Inc. (VG - TSX Venture, VN3 - FWB), today announced the completion of the initial closing of a non-brokered private placement of 4,863,334 units of the company at $0.60 per unit and 1,100,000 flow through shares at $0.60 per share, for gross proceeds of $3,578,000. This private placement financing was previously announced on May 11th, 2006. Each unit consists of one common share and one-half of one common share purchase warrant. Each full warrant entitles the holder to purchase one common share of the Company at a price of $0.66 per share until December 29, 2006. An agency fee of 5% in cash and 10% in broker warrants, expiring 12 months from closing, is payable to Coniston Investment Corp.
Proceeds from the private placement will be used for exploration work on the Company\'s mineral properties in Ontario, and for general working capital. The shares are subject to a hold period of four months and one day.
To learn more about Vedron Gold Inc. visit the Company website at www.vedron.com.
CONTACT: Thomas Meredith, President Tel: +1 416 368 0099 Fax: +1 416 368 1539
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