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Cancellation of Debt |
SHARES FOR DEBT TRANSACTION
SEC 12g 3-2(b) Exemption # 82-4931
Fort Frances, Ontario, October 30, 2009
Q-Gold Resources Ltd. (TSX VENTURE:QAU) (FRANKFURT:QX9) (http://www.qgoldresources.com) announced that the TSX Venture Exchange has accepted for filing, documentation with respect to a Shares for Debt Transaction completed pursuant to TSX Policy 4.3.
Pursuant to the terms of the Transaction, the Corporation issued a total of 1,017,080 common shares to four “Arm’s Length” parties in exchange for the cancellation of debt totaling $50,854. The common shares issued in this Transaction are restricted from resale until January 23, 2010.
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 net 29,000 acres of Ontario holdings in the historic Gold Camp at Mine Centre, including 5 historic gold mines. It also has options on 4,796 exploratory acres in Ontario’s Rainy River Greenstone Belt. In addition, the Corporation holds options on seven historic gold and silver mines in the historic Arizona gold camp of Crown King, and two 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 email all questions and correspondence to QAU@agoracom.com where they can also request addition to the investor email 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 form the Company’s expectations and projections. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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