|
June 1, 2009, Vancouver, BC: Lateegra Gold Corp. (the "Company") (LRG - TSX Venture).
Further to the Company's news release of April 28, 2009, the Company wishes to clarify that the private placement announced therein was arranged in conjunction with entering into a joint venture agreement with Gold Star Resources Corp. ("Gold Star") on Gold Star's Saskatchewan coal property. The Company is relying on the "part and parcel" exemption provided for in the TSX Venture Exchange's policy 4.1. Accordingly, the warrant price of both the flow through and non flow through units has been amended to $0.27 per share. The flow through units will be regular flow through and not super flow through units. Under the terms of the joint venture agreement, the Company may earn an initial 49% interest in the Saskatchewan coal property by making cash payments and share issuances as more particularly described in the April 28, 2009 news release. The Company will use the proceeds of the non flow through and flow through private placements primarily to fund the required option payments and exploration and development work on the Saskatchewan coal property. The private placements and joint venture agreement remain subject to the acceptance of the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
"Christopher Verrico" Christopher Verrico, 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 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.
|