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| | Mon Jun 1, 2009
Valgold Extinguishes Debt
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| | ValGold Resources Ltd. (the "Company") is pleased to announce that further to its news release of April 21, 2009, it has now completed its repayment to certain creditors with common shares (the "Common Shares") of the Company (the "Shares for Debt Transactions"). The Company issued a total of 19,899,700 Common Shares to settle outstanding aggregate debt of C$994,985.56 (the "Debt"). The Debt was owed by the Company in connection with services rendered to it by service providers and consultants.
The Common Shares issued pursuant to the Shares for Debt Transactions are subject to a four-month hold period ending September 22, 2009.
Stephen J. Wilkinson
Chairman, President & Chief Executive Officer
Tel: (604) 687-4622 Fax: (604) 687-4212
Email: info@valgold.com
This release was prepared by the Company's management. Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defines in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution concerning forward-looking statements: The information in this release may contain forward-looking information under applicable securities laws. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied in the forward-looking information. Factors that may cause actual results to vary include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, political instability, currency fluctuations, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic condition or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned to not place undue reliance on this forward-looking information. The Company does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events except as may be required under applicable securities laws or as prescribed by the Policies of the TSX Venture Exchange. |
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