VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2008) - Hawthorne Gold Corp. ("Hawthorne" or the "Company") (TSX VENTURE:HGC) announces it has arranged a non-brokered private placement (the "Offering") of its securities comprised of up to $633,500 of flow through common shares (the "FT Shares") priced at $0.21 per FT Share. The FT Shares will be made available by way of a private placement exemption in the province of British Columbia.
Closing of the Offering is subject to a number of conditions, including the receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange, as well as the negotiation and execution of certain documentation. The Company anticipates paying finders fees on funds sourced to eligible finders in respect of certain FT Shares placed under the financing.
Proceeds from the Offering will be used to fund the Company's 2009 field work on its projects in British Columbia. All securities issued in connection with the Offering will be subject to a statutory hold period of four months plus one day from the date of completion of the Offering in accordance with applicable securities legislation.
About Hawthorne Gold Corp.
Hawthorne Gold Corp. is a Canadian-based gold exploration and development company with key properties located in British Columbia, Canada. Hawthorne is led by well-respected mining leaders Richard Barclay and Michael Beley. Hawthorne's goal is to become a junior gold producer by working towards production at Table Mountain in 2009 and continued resource development at the nearby Taurus deposit, as well as the Frasergold deposit in the Cariboo region of south central British Columbia.
ON BEHALF OF HAWTHORNE GOLD CORP.
Richard J. Barclay, President & CEO
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements.
FOR FURTHER INFORMATION PLEASE CONTACT:
Hawthorne Gold Corp.
Toll Free: 1-866-869-8072
Hawthorne Gold Corp.
(604) 629-1505 or Toll Free: 1-888-629-1505
(604) 629-0923 (FAX)