Fire River Gold wraps C$7.07 million units sale with C$238,831 tranche

Proceeds from offering will be used for development of Nixon Fork mine

By Devika Patel

Knoxville, Tenn., Sept. 21 - Fire River Gold Corp. said it raised C$238,831 in the third and final tranche of a C$7.07 million private placement of units. The deal was announced as a C$10 million offering on July 19 and was conducted by BayFront Capital Partners Ltd. and Sunel Securities Inc. The offering raised C$5.75 million on Aug. 10 and C$1.08 million on Sept. 4.

The company sold 108,694,492 units of one common share and one warrant at C$0.065 per unit. It sold 88,417,458 units in the first tranche, 16,602,709 units in the second and 3,674,325 units in the third tranche.

Each warrant is exercisable at C$0.10 for five years. The strike price reflects an 11.11% premium to the Aug. 9 closing share price of C$0.09.

Proceeds will be used to develop the company's Nixon Fork mine, to repay debt and for working capital.

Vancouver, B.C.-based Fire River Gold is a gold explorer.

Issuer:	Fire River Gold Corp.
Issue:	Units of one common share and a warrant
Amount:	C$7,065,142
Units:	108,694,492
Price:	C$0.065
Warrants:	One warrant per unit
Warrant expiration:	Five years
Warrant strike price:	C$0.10
Agent:	BayFront Capital Partners Ltd., Sunel Securities Inc.
Announcement date:	July 19
Settlement dates:	Aug. 10 (for C$5,747,135), Sept. 4 (for C$1,079,176), Sept. 21 (for C$238,831)
Stock symbol:	TSX Venture: FAU
Stock price:	C$0.09 at close Aug. 9
Market capitalization:	C$22.82 million

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