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Partial Closing of Private Placement |
Q-GOLD CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT
SEC 12g 3-2(b) Exemption # 82-4931
Fort Frances, Ontario, April 9, 2009
Q-Gold Resources Ltd. (TSX VENTURE:QAU) (FRANKFURT:QX9) (http://www.qgoldresources.com)
is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the "Offering") for gross proceeds of $184,800.
Pursuant to the Offering, the Corporation issued 18,480,000 common shares, and paid a cash finder's fee of $15,842.
Two insiders of the Corporation subscribed for an aggregate of 2,637,800 common shares of the Offering.
The securities issued in connection with the closing of this tranche of the Offering cannot be resold prior to August 10, 2009, as stipulated under applicable securities legislation and the TSX Venture Exchange policies.
Proceeds received from the Offering will be used to repay current payables, to finance general and administrative expenses and for other general corporate purposes.
About Q-Gold Resources Ltd.
Q-Gold is a Canadian-based mineral exploration company currently exploring for precious and base metals and platinum group elements on its extensive Ontario holdings in the historic Gold Camp at Mine Centre of 32,585 acres, including 5 historic gold mines. It also has options on 4,796 exploratory acres in the Rainy River Greenstone Belt. In addition, the Corporation holds options on six historic gold and silver mines near Crown King, Arizona and four prospective copper porphyries and one copper / zinc prospect in Arizona.
For all future Q-Gold investor relations needs, investors are asked to visit the Q-Gold IR Hub at http://www.agoracom.com/IR/Q-Gold where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.
The statements made in this Press Release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections. The TSX Venture Exchange has not reviewed this press release and neither approved nor disapproved the information contained in this press release.
CONTACT INFORMATION
Corporate Inquiries
Q-Gold Resources Ltd.
J. Bruce Carruthers II President
1-888-779-0166
Website: www.QGoldResources.com
Investor Relations
AGORACOM Investor Relations
http://www.agoracom.com/IR/Q-Gold
QAU@Agoracom.com
