Entrée Gold Inc.
Entrée Gold Inc.: ENTRÉE GOLD CLOSES BOUGHT DEAL FINANCING – ADDS OVER $41 MILLION TO TREASURY
Entrée Gold Inc. / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Vancouver, B.C., November 27, 2007 - Entrée Gold Inc. (TSX:ETG; AMEX:EGI; Frankfurt:EKA – 'Entrée' or the 'Company') has successfully closed its previously announced bought deal offering (the 'Offering') of 10,000,000 shares of the Company at a price of C$3.00 per share for gross proceeds of C$30 million. The Offering was placed by BMO Nesbitt Burns Inc. (the 'Underwriter'). The Company paid the Underwriter a cash commission equal to 6% of the gross proceeds of the Offering. In order to maintain their ownership of Entrée’s issued and outstanding shares, approximately 14.7% and 15.9% respectively, Ivanhoe Mines Ltd. (TSX: IVN; NYSE: IVN; NASDAQ: IVN – 'Ivanhoe Mines') and Rio Tinto, through its wholly owned subsidiary Kennecott Canada Exploration Inc. (NYSE: RTP; LSE: RIO.L) (collectively, 'Rio Tinto'), exercised their pre-emptive rights and acquired, concurrently with the closing of the Offering, an aggregate of 4,428,640 shares of the Company at a price of C$3.00 per share for additional gross proceeds of C$13,285,920. Entrée’s President & CEO, Greg Crowe commented, 'This financing represents a major step forward in the evolution of Entrée. It puts us in a much stronger financial position allowing us to pursue advanced growth opportunities worldwide. We appreciate the continued support from Rio Tinto and Ivanhoe Mines, which has now been reinforced by the participation of one of the world’s pre-eminent financial institutions, BMO Nesbitt Burns.' The proceeds will be used to finance any future property acquisitions that the Company’s board of directors deem appropriate, for exploration and development of the Company’s Lookout Hill property in Mongolia and for general corporate purposes. The Company is actively looking to acquire and manage advanced projects which are complementary to its existing portfolio of properties in Mongolia, the United States and China. Please see the Company’s Short Form Prospectus, dated November 20, 2007 and filed on SEDAR at www.sedar.com, for further details. ABOUT ENTRÉE GOLD INC. Entrée Gold Inc. (www.entreegold.com) is a Canadian mineral exploration company focused on the exploration and acquisition of base and precious metal deposits. Entrée shares a portion of the Oyu Tolgoi copper-gold-molybdenum porphyry deposit in southern Mongolia with its strategic partners Ivanhoe Mines and Rio Tinto. Lookout Hill, Entrée’s flagship project in Mongolia, completely surrounds Oyu Tolgoi and is host to the Hugo North Extension, to the north, and the newly discovered Heruga Deposit, located to the south. The Company continues to explore its large landholdings in Mongolia as well as evaluating new opportunities throughout the region and elsewhere in Asia. In North America, the Company is exploration for copper-molybdenum porphyries in the southwest United States and seeking additional opportunities to utilize its expertise in exploring for deep and/or concealed ore deposits. FURTHER INFORMATION Monica Hamm, Investor Relations Entrée Gold Inc. Tel: 604-687-4777 E-mail: info@entreegold.com E-mail: mhamm@entreegold.com Website: www.entreegold.com Contact Germany: Value Relations GmbH Tel: +49 (69) 959246 – 16 EKA@vrir.de 27.11.2007 Financial News transmitted by DGAP ----------------------------------------------------------------------
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden