|
October 14, 2009, Vancouver, BC: Lateegra Gold Corp. (the “Company”) (LRG – TSX Venture) is pleased to announce that it has retained Progressive IR to help with investor awareness activities in Canada.
Progressive IR is a Vancouver based Investor Relations firm with extensive experience and contacts in the investment community. Progressive will be involved in enhancing corporate publication materials, as well as presenting and organizing presentations to current and prospective shareholders. Terms of the six month agreement with Progressive call for payment of $7,500 per month.
In addition, the Company is pleased to announce the signing of an agreement to acquire one additional mineral claim southwest of Timmins, Ontario, known as the Price Northwest claim. The claim consists of 9 claim units and covers an area of approximately 360 acres, have been acquired from arms length Vendors. The claim is located in Price Township with the Company’s previously announced Ranger property (see our news release dated July 20, 2009) located immediately east, the Company’s previously announced Thorneloe Township property (see our news release dated August 27, 2009) immediately to the west, and the newly acquired Weduwen property (see our news release dated October 5, 2009) lying both north and south of this claim.
Acquisition costs are a total of $50,000 over a 36 month period, of which $5,000 is payable on signing, and the issuance of a total of 200,000 shares of the Company over a 36 month period after Exchange approval, with 20,000 of those shares issuable on TSX Venture Exchange approval to the transaction. The Optionor will retain a two percent Net Smelter Royalty (“NSR”), of which one percent can be purchased by the Company for $1,000,000, leaving the Optionor with a one percent NSR. A finder’s fee will be payable on this transaction in accordance with TSX Venture Exchange policy. The Agreement is subject to the approval of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
"Peter Dickie"
Peter Dickie, Director
“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 release." Cautionary note: This report contains forward looking statements, particularly those regarding cash flow, capital expenditures and investment plans. Resource estimates, unless specifically noted, are considered speculative. The company has not filed a National Instrument 43-101 report on any property, but will do so as soon as the information is available. Any and all other resource or reserve estimates are historical in nature, and should not be relied upon. By their nature, forward looking statements involve risk and uncertainties because they relate to events and depend on factors that will or may occur in the future. Actual results may vary depending upon exploration activities, industry production, commodity demand and pricing, currency exchange rates, and, but not limited to, general economic factors. Cautionary Note to US investors: The U.S. Securities and Exchange Commission specifically prohibits the use of certain terms, such as "reserves" unless such figures are based upon actual production or formation tests and can be shown to be economically and legally producible under existing economic and operating conditions.
|
Lateegra Gold Corp. 
