Molycor Amends Terms Of Non-Brokered Private Placement
April 30, 2010 - Vancouver, British Columbia
Molycor Gold Corp. (TSX.V-MOR; Frankfurt-M1V; Pink Sheets-MLYFF)(�Molycor� or the �Company�) announces the Company is amending the terms of its Non-Brokered Private Placement previously announced on March 29, 2010.
The Company announced it is raising by way of Non-Brokered Private Placement, up to $840,000 through the issuance of up to 12,000,000 units (�Units�) at a price of $0.07 per Unit.
The term of the warrant has been changed from a half warrant to a whole warrant. Each Unit is now comprised of one common share of the Company (a �Share�) and one share purchase warrant (each warrant, a �Warrant). Each Warrant entitles the holder to purchase one common share at a price of $0.12 for two years from the date of issue.
This Private Placement could be subject to finders� fees which will be paid in accordance with the TSX Venture Exchange policies and is subject to the approval of the regulatory authorities.
About Molycor Gold Corp.
Molycor is a diversified precious, speciality and base metal exploration and development company focusing on magnesium, molybdenum and gold exploration and development in North America.
On Behalf of Management
Larry W. Reaugh
Chief Executive Officer
For all Molycor Gold Corp. investor relations needs, investors are asked to visit the Molycor Gold Corp. website at
www.molycor.com.
Information Contact
Larry W. Reaugh
Chief Executive Officer
Head Office: 2A 15782 Marine Drive, White Rock, B.C. V4B 1E6
Cautionary Notice: The Reader is cautioned that the full Cautionary Notice is not attached to this email. The reader is requested to access the news release on the Company�s website at www.molycor.com or at SEDAR at www.sedar.com to read the full Cautionary Notice. The full Cautionary Notice is not attached as the recipient�s spam filters frequently block receiving emails containing the full Cautionary Notice.
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Molycor Gold is a gold exploration company based in Canada. Molycor Gold holds various exploration projects in Canada. Its main asset in production is WINDPASS / SWEETHOME in Canada and its main exploration properties are GRIFFON, BEAVERDELL, DOBBIN I, DOBBIN II, SILVERADO, CROWREA, RIDGE TOP, TKO / HOT DOG RIDGE, FLAP, DAVIS, TAMI-MOSI and EMPRESS in Canada. |