New Issue: Luiri Gold concludes C$2.63 million private placement of common stock

By Devika Patel

Knoxville, Tenn., Aug. 18 - Luiri Gold Ltd. said it took in C$1.14 million in the second tranche of a C$2.63 million private placement of stock. The deal priced on June 8 and the company raised C$1.49 million in the first tranche on July 8.

The company sold a total of 21,892,500 shares at C$0.12 per share to Lachlan Star. It sold 12,416,101 shares in the first tranche and 9,476,399 shares in this one.

This financing resulted in Lachlan Star holding about 31% of the company's issued shares.

Proceeds will be used to complete a feasibility study on the current resource base at the Luiri Hill Project in the next year, for further resource expansion drilling, exploration and corporate costs.

Luiri Gold, based in Toronto, is a gold exploration company.

Issuer:	Luiri Gold Ltd.
Issue:	Shares
Amount:	C$2,627,100
Shares:	21,892,500
Price:	C$0.12
Warrants:	No
Investor:	Lachlan Star
Pricing date:	June 8
Settlement date:	July 8 (for C$1,489,932.12), Aug. 18 (for C$1,137,167.88)
Stock symbol:	TSX Venture: LGL
Stock price:	$0.12 at close June 8
Market capitalization:	$8.44 million

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