News Releases
| May 18, 2007 Amendment To $3.1 Million Non-Brokered Private Placement | |
| ValGold Resources Ltd. (VAL-TSX-V) ("ValGold") is pleased to announce that, subject to regulatory approval, it will carry out a non-brokered private placement of up to 8.9 million units (the "Units") at a price of $0.35 per Unit, for gross proceeds of up to $3,115,000.00. This amount has been amended from a preceding news release dated May 18, 2007. Each Unit is comprised of one common share in the capital of ValGold and one-half of one non-transferable share purchase warrant. Each whole share purchase warrant will entitle the holder to purchase one additional common share of ValGold for a period of 24 months at an exercise price of $0.50 per share for the first 12 months from the date of issue of the warrant and thereafter at an exercise price of $0.60 per share for the remaining 12-month period. There are no finders' fees or commissions payable in relation to the private placement. All shares, warrants and any shares issued upon exercise of the warrants with respect to the above private placements are subject to a hold period and may not be traded for four months plus one day from the date of issuance. Proceeds from the non-brokered private placement will be used to advance the exploration programs of the optioned mineral properties in Guyana and Venezuela , and for general working capital. ValGold is listed on the TSX Venture Exchange under the trading symbol: VAL. For further information on ValGold and its portfolio of international projects, visit our website at www.valgold.com. Stephen J. Wilkinson President & Chief Executive Officer For further information please contact: Jeff Stuart, Investor & Corporate Communications Tel: (604) 687-4622 Fax: (604) 687-4212 Email: jstuart@valgold.com or info@valgold.com No regulatory authority has approved or disapproved the information contained in this news release. | |
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