Torrent Gold plans $360,000 non-brokered private placement

Torrent Gold Inc. (CSE: TGLD) (FSE: RV00) announced plans to complete a non-brokered private placement of up to 2,400,000 units at $0.15 per unit, for gross proceeds of up to $360,000.

Each unit consists of one common share and one warrant. Each warrant allows the holder to purchase one additional share at $0.20 for a period of 24 months following the closing date of the offering.

According to the company's statement, net proceeds are intended primarily for general working capital purposes. The company said it reserves the right to increase the size of the offering at its discretion, and no minimum subscription amount applies.

Securities issued under the offering will be subject to a hold period of four months and one day from the closing date, in accordance with Canadian securities laws. The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.

Torrent Gold is a mineral and natural resources exploration company based in Vancouver, British Columbia.

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