Premier Completes $4,950,000 Flow-Through Financing

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NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGHTOUT U.S. NEWSWIRE SERVICES

 

PREMIER GOLD MINES LIMITED (TSX:PG) is pleased to announce that it has completed its previously announced non-brokered private placement for 660,000 “flow-through” common shares (“Flow-Through Shares”) at a price of $7.50 per share for gross proceeds of $4,950,000 (the “Offering”). The proceeds of the Offering will be used for funding exploration on Premier’s Canadian properties.

As consideration for its services in connection with the Offering, Premier paid a finder a fee equal to 5% of the gross proceeds of the Offering.

The Flow-Through Shares issued pursuant to the Offering will be subject to a four month hold period from the date of closing the Offering. The completion of the Offering is subject to final approval from the Toronto Stock Exchange.

Premier Gold Mines Limited is a well financed Canadian-based mineral exploration and development company with several projects and deposits in Northwestern Ontario and a joint venture in Mexico. In the Red Lake gold mining camp, two are operated in joint venture with Red Lake Gold Mines. The company also owns strategic projects located in the heart of the Carlin Trend, Nevada, on the main Musselwhite Gold Mine trend, and holds a 70% interest in the Hardrock Project.

 

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