VANCOUVER, Aug. 2, 2013 - Abzu Gold Ltd. ("Abzu" or the "Company") (TSX VENTURE:ABS) announces as a follow-up to its news release dated July 12, 2013 that due to current market conditions the second tranche of the non-brokered private placement financing will not be completed at this time. The Company successfully closed the first tranche of this private placement (the "First Tranche Private Placement") on May 30, 2013 and issued 20,000,000 units (the "Units") for gross proceeds of $1,000,000. Each Unit is comprised of one common share (a "Share") of the Company and one common share purchase warrant entitling the holder to purchase one additional common share of the Company at a price of $0.10 per Share until May 30, 2014.
The proceeds from the First Tranche Private Placement will be used for the advancement of the Company's Nangodi concession and for general corporate purposes. For additional information on Abzu and its properties readers are invited to visit the Company's web site (www.abzugold.com).
On behalf of the board of directors of ABZU GOLD LTD.
David J. Price President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Contact
Abzu Gold Ltd. David J. Price, President and CEO 604-398-5381
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VANCOUVER, Aug. 2, 2013 - Abzu Gold Ltd. ("Abzu" or the "Company") (TSX VENTURE:ABS) announces as a follow-up to its news release dated July 12, 2013 that due to current market conditions the second tranche of the non-brokered private placement financing will not be completed at this time. The Company successfully closed the first tranche of this private placement (the "First Tranche Private Placement") on May 30, 2013 and issued 20,000,000 units (the "Units") for gross proceeds of $1,000,000. Each Unit is comprised of one common share (a "Share") of the Company and one common share purchase warrant entitling the holder to purchase one additional common share of the Company at a price of $0.10 per Share until May 30, 2014.
