Triton Gold SPP Raises $1,000,000
Triton Gold Limited (ASX: TON, "Triton", "the Company") is pleased to announce that the Company Share Purchase Plan offer ("SPP") closed at 5.00pm WST on Friday, 21 January 2011.
The SPP was warmly received by Company shareholders with just over $1,027,000 worth of shares applied for at 13 cents. The Company is currently waiting the clearance of funds before finalising the allotment to those applicants.
This raising complements the Company's previous placement in December 2010 of 10 million shares at 13 cents per share to raise approximately $1,300,000.
The maximum raising under the SPP was for a Total of $1,700,000, being approximately 13 million shares. The Company will now look at the potential of placing the shortfall from the SPP with sophisticated investors.
Funds raised by the placement will be used to advance the exploration of Triton's key focus Salmon Gums Gold Project in the Albany Fraser Province (host to the AngloGold Ashanti-Independence Tropicana deposits now totalling +5 million ounces and with development imminent) and for working capital purposes. The next phase of work at Salmon Gums will include geophysics and continued drilling.
Triton operates four projects in the Albany Fraser Province at Salmon Gums, Fraser Range North, Cundeelee and Neale.
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