Vancouver, BC, July 20, 2010 – Taku Gold Corp. (the “Company”) (TSXV: TAK) closed its brokered private placement for gross proceeds totalling $3.45-million, completed through Union Securities Ltd. These funds were raised through the issue by the company of: (i) 13.24 million units at a price of 15 cents per unit (for gross proceeds of $1,986,000), each unit consisting of one common share and one common share purchase warrant entitling the holder to purchase one additional common share of the company at a price of 25 cents until July 16, 2012; and (ii) 9.76 million flow-through units at a price of 15 cents per FT unit (for additional gross proceeds of $1,464,000), each FT unit consisting of one flow-through common share and one-half of one warrant, of which one whole warrant entitles the holder to purchase one warrant share at a price of 25 cents until July 16, 2012.
A commission of $276,000 was paid by the company to the agent as consideration for arranging the offering. The company also issued agent’s options, which entitles the agent to purchase up to 2.3 million units of the company at a price of 15 cents per agent’s unit until July 16, 2012. Each agent’s unit consists of one common share and one common share purchase warrant entitling the agent to purchase one additional common share of the company at a price of 25 cents until July 16, 2012.
The securities issued pursuant to the offering, and any common shares to be issued upon the exercise of the warrants, agent’s option and agent’s warrants, are subject to a hold period expiring Nov. 17, 2010. Completion of the offering is subject to receipt by the company of all necessary regulatory approvals.
On Behalf of the Board,
Taku Gold Corp.
Zachery Dingsdale,
CEO and President