Advance Gold Corp. ("Advance Gold" or "the Company") is pleased to announce that Allan Barry Laboucan of the Allan Barry Reports has been appointed as the President and CEO of the Company effective immediately, to fill the vacancy created by the resignation of Mr. James Gillis as President and CEO of the Company. Mr. Gillis will continue as a director of the Company and will also be appointed Chairman of the Board of Directors of the Company. Mr. Laboucan is a First Nations mining entrepreneur who started working in the mining sector in 1993. The Company will benefit from his experience and network of professionals in the diamond and gold mining sectors.
Advance Gold also announces that it will conduct a non-brokered private placement of 10,000,000 common shares in the capital of the Company at a price per share of $0.05 for gross proceeds of $500,000.
Finder's fees in amounts to be determined may be paid to parties who introduce the Company to subscribers.
In accordance with applicable securities legislation, the common shares to be issued will be subject to a hold period of four months and one day from the date of issuance of the securities. The proceeds of the private placement will be used by the Company for general corporate purposes.
For further information, please contact:
Jim Gillis, President
Advance Gold Corp. 432 Royal Avenue Kamloops, BC V2B 3P7 Phone 1.250.574.5011
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change, except as required by law.
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