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Batero Gold Corp Arranges Private Placement
VANCOUVER, BRITISH COLUMBIA -- August 06, 2010 - Batero Gold Corp. (TSX-V:
BAT) Mr. Brandon Rook wishes to announce a non brokered private placement of 623,700 units at $0.80 per unit for gross proceeds of $498,960. The placees in the financing comprise of management, employees and consultants of the Company.
Each unit comprises a share and a half warrant with each full warrant allowing the holder to purchase an additional share at $1.00 for a period of two years from closing. The funds from this financing will be used for general working capital purposes. There will be no finder's fees payable.
The above transaction will be subject to regulatory approval. The units issued will be subject to a four-month hold period from the date of issuance.
ON BEHALF OF THE BOARD OF
BATERO GOLD CORP.
President & CEO
Batero Gold Corp.
For further information please contact:
Batero Gold Corp.
About Batero Gold:
Batero Gold Corp. (TSX-V:BAT) is a Vancouver-based precious and base metals exploration and development company focused in Colombia's emerging and prolific Mid-Cauca porphyry gold and copper belt. Batero is located within the Quinchia district and has the right to earn a 100% ownership in the Quinchia Project, comprising a 1407.43 hectare tenement. The Quinchia Project includes three known gold porphyry target centres. The Quinchia district and Batero's project is considered socially stable and mining friendly and is supported with a comprehensive infrastructure network. Batero has assembled a strong management and technical team in Colombia whom have contributed to numerous significant discoveries throughout Colombia. Batero plans to leverage its share structure with strategic local and regional relationships, and long-term financial partners, to develop its prospective project into what the Company believes will be Colombia's next major mining venture.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words expects, plans, anticipates, believes, intends, estimates, projects, potential and similar expressions, or that events or conditions will, would, may, could or should occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.