Central Asia Gold AB
Central Asia Gold AB raises SEK 28 million through a directed new share issue.
Central Asia Gold AB 29.07.2011 08:50 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Stockholm, Sweden, 2011-07-29 08:50 CEST (GLOBE NEWSWIRE) -- Central Asia AB (publ) has on July 28, 2011 (after the closing of First North) completed a directed new share issue encompassing 1 600 000 new shares at an subscription price of SEK 17,50 per share. Through the new share issue, the company raises SEK 28 million. The new share issue was directed to a limited number of specifically selected qualified investors. When determining the subscription price for the completed new share issue the Board has considered the current market conditions, the price elasticity of qualified investors, the company's financial situation and the previous average share price. The subscription price equals to a discount of approximately 10 % of the average share price during the previous 20 trading days. 'The funds from the directed share issue will be used for further strengthen the Company's financial position and for amortization of outstanding bank loan', says Lars Guldstrand the Chairman of the Board of Central Asia Gold AB. The Board of Directors has resolved on the directed new share issue based on the authorisation from the Annual General Meeting held on May 31, 2011. Through the directed new share issue, the number of shares in the Company increases by 1 600 000 to a total of 17 616 987 with a dilution effect of approximately 10 per cent. The share capital is increased by SEK 18 000 000 to a total of SEK 198 191 103:75 through the directed new share issue. Additional information: Short name: CAG ISIN-code: SE0001337213 For more information, please contact: Lars Guldstrand, Chairman of the Board, phone: +46 70 528 8181 E-mail: lars.guldstrand@centralasiagold.se Preston Haskell, CEO in Central Asia Gold AB, phone: +46 76 890 5549 E-mail: preston.haskell@centralasiagold.se Website: www.centralasiagold.se, Postal and visiting address: Engelbrektsplan 2, 4tr SE-114 34 Stockholm Central Asia Gold AB is a Swedish mining company focused on gold production and exploration in Russia in the central parts of Asia. In 2010, totally 730 kg of gold was produced. As of the beginning of May 2011, the company's assets were estimated to encompass some 1,000,000 oz of C1/ C2 Russian gold reserves (around 32 tons). Since July 19, 2010, Central Asia Gold's shares are traded on First North Premier at the NASDAQ OMX Nordic Exchange under the short name CAG. For more information please visit www.centralasiagold.se. Mangold Fondkommission is Certified Adviser to CAG, for more information please call +46 8 503 015 50 or visit www.mangold.se. Cautionary Statement: Statements and assumptions made in this report with respect to Central Asia Gold AB's ('CAG') current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of CAG. Forward-looking statements include, but are not limited to, those using words such as 'may', 'might', 'seeks', 'expects', 'anticipates', 'estimates', 'believes', 'projects', 'plans', strategy', 'forecast' and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where CAG operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) CAG's continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecast in this report. CAG assumes no unconditional obligation to immediately update any such statements and/or forecasts This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions. Nothing in this press release should be considered as an offer to invest or otherwise trade in shares of Central Asia Gold AB (publ). The proposed issue will not be directed at residents or those living in the United States, Australia, Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action would require further prospectus, other offering documentation, registration or other measures beyond those required by Swedish law. No securities will be registered under the United States Securities Act of 1933, a similar law in any state in the United States, or under any provincial law in Canada, nor under the applicable law of another country. 29.07.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Central Asia Gold AB Sweden Phone: Fax: E-mail: Internet: ISIN: SE0001337213 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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