casimir capital logo (JAN) CRESCENT GOLD: $5,323,000 AUD

Crescent Gold Limited Successfully Completes Equity Raising

 

Crescent Gold Limited is pleased to announce it has successfully completed a placement of 26,615,000 million shares to raise A$5,323,000 million equity to sophisticated investors. These sophisticated investors include several global gold funds based in the US and Canada. The shares were placed at a price of A$0.20 per share and include one option for every two shares issued. These options expire on 15 January 2013 and will have an exercise price of A$0.30.

As previously announced, the funds raised will be used for the unbudgeted acquisition costs and subsequent accelerated development work (primarily drilling) on the Laverton Extended Joint Venture properties.

 

These properties were acquired from Barrick and Carbon Energy (ASX: CNX) in November 2009 as previously announced which included 1.1m ounces of JORC resources (Crescent's total resource = 2.1m ounces).

 

Casimir Capital LP based in New York and Casimir Capital (Asia Pacific) Pty Ltd, based in Sydney have successfully coordinated the placement.

 

Yours faithfully

Roland Hill, Chairman

 

Additional information related to the Company is available for review at www.sedar.com or on the Company's website at www.crescentgold.com.

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General Disclosure:

 

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state.