Friday, September 20, 2013
BANDERA ANNOUNCES $250,000 PRIVATE PLACEMENT
Bandera Announces $250,000 Private Placement
Edmonton, AB, September 20, 2013-Bandera Gold Ltd (“Bandera”) (TSXV:BGL) announced today a proposed non-brokered private placement of up to of 5,000,000 units of Bandera at a price of $0.05 per unit, for proceeds of up to $250,000. Each unit will consist of one common share and a half warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of $0.05 per share for a period of two years from closing of the private placement.
The warrants will include a provision that in the event that the common shares of Bandera trade at or above $0.08 per share for 5 consecutive trading days, Bandera may, upon notice to the holders of the warrants, shorten the exercise period to 30 days after which the warrants will lapse.
The private placement is subject to regulatory approval including the approval of the TSX Venture Exchange. Finder’s fees will be paid on the private placement in accordance with the policies of the TSX Venture Exchange and applicable securities laws.
The net proceeds of the private placement will be used for general working capital.
On Behalf of the Board
President and CEO
For further information please contact:
Stephen Roehrig, President and CEO (780) 465-4129
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Information provided herein contains forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, which are considered reasonable by Bandera at the time of preparation, may prove to be incorrect. Actual results achieved will vary from the information provided and the variations may be material. There is no representation by Bandera that actual results achieved will be the same in whole or in part as those indicated in the forward-looking statements.