White Tiger Announces Closing of Third and Final Tranche of Private Placement
TORONTO, ONTARIO -- (Marketwire) -- 08/29/12 -- White Tiger Gold Ltd. (the "Company") (TSX: WTG) announces that it has closed the third and final tranche of its previously announced non-brokered offering of common shares (each, a "Common Share") at a price of CDN$0.10 per share (the "Private Placement"). Pursuant to the third tranche of the Private Placement, the Company sold 15,000,000 Common Shares to an arm's length investor for gross proceeds of CDN$1,500,000. These Common Shares are subject to a four month hold period that expires on December 30, 2012.
The Company raised an aggregate of CDN$9,620,800 pursuant to the Private Placement.
No finder's fees were paid in connection with the Common Shares sold under the Private Placement.
The proceeds from the Private Placement will be used to support capital development at the Company's Savkino and Nasedkino projects in Russia and for general corporate purposes.
About White Tiger
The Company is a TSX-listed mining and exploration company, focused on the development of mineral resources in the Russian Federation.
Caution Concerning Forward-Looking Information
This news release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements") relating, but not limited to, the Company's expectations, intentions and beliefs (including, without limitation, statements regarding, the Private Placement, including the use of proceeds from the Private Placement). Words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology are used to identify forward-looking statements. Such statements are based on assumptions, estimates, opinions and analysis made by the management of the Company in light of their experience, current conditions and their expectations of future developments as well as other factors which they believe to be reasonable and relevant. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements. Risks and uncertainties that may cause actual results to vary include but are not limited to the Company's use of the Private Placement proceeds for purposes other than as specified herein and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this press release, and no assurance can be given that such events will occur in the disclosed time frames or at all.
Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Although the Company believes that the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Contacts:
White Tiger Gold Ltd.
James McBurney
Chief Executive Officer
info@whitetigergold.com
www.whitetigergold.com
