Good news for TomaGold (LOT)...with over a million in the treasury and a JV partnership in place, there should be some good news flow in the year.

Mr. David Grondin reports

TOMAGOLD CLOSES FIRST TRANCHE OF $811,300

TomaGold Corp. has closed on a first tranche of a non-brokered private placement totalling $811,300, comprising $749,300 in flow-through units and $62,000 in common units.

In connection with the flow-through units, the company has issued 4,995,333 flow-through common shares priced at 12 cents per share, 1,498,600 common shares priced at 10 cents per share and 1,498,600 warrants. Each warrant entitles its holder to purchase one common share of the company at 12 cents within a one-year period.

For the common units, the company has issued 620,000 common shares priced at 12 cents and 620,000 warrants, with each warrant entitling its holder to purchase one common share of the company at 12 cents within a one-year period.

The company paid various finders cash finders' fees equal to a maximum of 10 per cent of the gross proceeds raised by said finders and issued 335,400 warrants entitling some of those finders to purchase one common share of the company at 10 cents within a one-year period.

TomaGold will use the proceeds from the private placement for exploration work on its Quebec properties and for working capital purposes. The common shares issued under the private placement and the underlying common shares to be issued pursuant to the exercise of the warrants are subject to a resale restriction period of four months and one day.

The private placement is subject to regulatory approval.