Rambler Invests Further in Marathon Gold
LONDON, UNITED KINGDOM and BAIE VERTE, NEWFOUNDLAND and LABRADOR,
CANADA -- (Marketwired) -- 04/02/14 -- Rambler Metals and Mining plc
(TSX VENTURE: RAB) (AIM: RMM) ('Rambler' or the 'Company'), a copper
and gold producer operating in Newfoundland and Labrador, Canada,
today announces the closing of the second tranche of a non-brokered
private placement of common shares of Marathon Gold Corporation
("Marathon" or the "Company") (TSX: MOZ) under the terms of a
subscription agreement dated December 3, 2013 and previously
announced on December 4, 2013.
The placement of Marathon's common shares by way of a non-brokered
private placement generated proceeds of $250,000 and cumulative
proceeds of $500,000, with Rambler holding an option to invest an
additional $1.5 million going forward. Post-subscription Rambler
holds 1,973,918 shares of Marathon representing 3.1% of the issued
and outstanding shares.
About Marathon Gold Corporation
Marathon is a Toronto based gold resource development company focused
on the Valentine Lake property in central Newfoundland. Marathon's
mission is to rapidly advance the Valentine Lake project. For more
information visit: www.marathon-gold.com.
The Valentine Lake property itself, owned 100% by Marathon Gold
Corporation, hosts two well defined gold deposits with NI 43-101
compliant resources: the Leprechaun Gold Deposit and the Victory Gold
Deposit. The Leprechaun Gold Deposit is located near the
south-western end of the Valentine Lake property, and the Victory
Gold Deposit is located 13 kilometers along strike to the north-east,
Newfoundland, Canada. These gold deposits form part of a 23 km long,
highly prospective gold-bearing mineralized corridor focused along
the Valentine Lake Thrust Fault.
Click on, or paste the following link into your web browser, to view
the associated PDF document:
Press spacebar to pause and continue. Press esc to stop.