This press release is issued pursuant to Multilateral Instrument 62-104 -- Take-Over Bids and Issuer Bids and National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting Issues.
Kamloops, British Columbia -- September 21, 2011 -- Guido Pas of Chemin du Mousseron, 6, CH 1292 Chamb̩sy, Switzerland has acquired ownership of 1,000,000 units of Advance Gold Corp. (the "Issuer"), the units comprised of 1,000,000 common shares in the capital of the Issuer and warrants entitling the purchase of 1,000,000 common shares in the capital of the Issuer at a per share price of $0.10 until September 19, 2013. The 1,000,000 common shares acquired represent approximately 3.53% of the Issuer's issued and outstanding common shares.
Following this acquisition, Mr. Pas owns, directly and indirectly, 2,023,000 common shares in the capital of the Issuer representing approximately 7.13% of the Issuer's issued common shares, and owns, directly and indirectly, warrants entitling the purchase of an aggregate 1,000,000 common shares of the Issuer, or, assuming exercise of these warrants by Mr. Pas, he would own, directly and indirectly, a total of 3,023,000 common shares or approximately 10.29% of the Issuer's issued and outstanding common shares on a post-conversion beneficial ownership basis.
The securities were purchased by Mr. Pas for $0.05 per unit for a $50,000 cash subscription and were issued from treasury of the Issuer pursuant to a non-brokered private placement offering. The securities were acquired for investment purposes by Mr. Pas and this investment in the Issuer will be evaluated and increased or decreased from time to time at Mr. Pas's discretion.
In connection with this private placement, BC Instrument 72-503 -- Distribution of Securities Outside of British Columbia was relied on, as the distribution to Mr. Pas meets the conditions thereof.
A report respecting this acquisition will be electronically filed with the Securities Commission in British Columbia and Alberta and will be available for viewing through the Internet at the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.