First it was GCC and now it's LG's turn ...........
Lions Gate Energy Announces Private Placement Financing
Lions Gate Energy Inc. (TSX VENTURE:LG) (the "Company") announces a private placement financing of up to 10,000,000 units at a price of $0.05 per unit (the "Units") to raise up to an aggregate total of $500,000 (the "Financing"). Each Unit consists of one common share in the equity of Lions Gate Energy and one half of one share purchase warrant (the "Warrants"); each whole Warrant entitles the holder to purchase one additional common share (a "Share") at a price of $0.10 per Share for a period of one year from closing of the Financing. Proceeds of the Financing will be used for general working capital purposes. Finder's fees may be payable in connection with the Financing. Closing of the Financing is subject to regulatory approval.
This news release has been prepared on behalf of the Board of Directors which takes full responsibility for its contents.
J. Frank Callaghan, President and CEO