(Not for Distribution to
Evolving Gold Corp Announces Increase in Financing
April 25, 2007, Vancouver, British Columbia: Evolving Gold Corporation (CNQ: GOLD) (OTCBB: EVOGF) (the “Company”) is pleased to announce that the financing previously announced on March 19,2007, with Pacific International Securities Inc. for the private placement to raise up to $3,000,000 (the “Offering”) has been increased to $3,013,250.00.
The Offering will now consist of the issuance of up to 12,053,000 units (the “Units”) from the previously announced 12,000,000 Units, at $0.25 per Unit, each Unit will consist of one common share and one transferable common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share for a period of two years from the date of closing at a price of $0.35. The Company will pay a commission equal to 8% of the gross proceeds of the Offering, payable in cash or Units of the Offering, at the election of the Agent. The Agent will also be granted compensation options (the “Compensation Options”) equal in number to 10% of the number of Units sold under the Offering. Each Compensation Option will entitle the Agent to purchase one common share for a period of two years from the date of closing at an exercise price of $0.30. Closing of the Offering is subject to regulatory approval and customary conditions.
The net proceeds of the financing will be used for acquisition and exploration of mineral properties in
About Evolving Gold Corp.
Evolving Gold Corp. is a Canadian-based precious mineral exploration and development company focused on projects in
EVOLVING GOLD CORPORATION
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Dr. Lawrence A Dick
President and Director
Tel: 604 685 6375 or 1-866-604-3864
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the
Not For Distribution to