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Cluff Gold completes £8.1 million placing in UK, Canada and US

Fasken
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Overview

Client

Cluff Gold

On March 30, 2009, Cluff Gold plc (AIM: CLF; TSX: CFG) announced that all outstanding conditions in relation to the fundraising by which Cluff Gold is raising approximately £8.1 million before expenses, by way of a placing of 20,285,000 new ordinary shares of 1p each ('Placing Shares') at 40p per share had been met, subject only to admission of the Placing Shares to trading on AIM. Application was made for the Placing Shares to be admitted to trading on AIM and dealing in the Placing Shares commenced on March 31, 2009. Cluff Gold will receive the net proceeds of the Placing no later than April 1, 2009. The total number of shares in the Company in issue on admission was 117,136,331 ordinary shares. Cluff Gold is focused on the identification, acquisition and development of gold deposits in West Africa that are amenable to open-pit mining and low cost production techniques. Cluff Gold was advised in this transaction by Fasken Martineau with a team that included John Turner, Aaron Atkinson and Brad Freelan.

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