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HALIFAX, NOVA SCOTIA -- (Marketwire) -- 02/06/12 -- Stay Gold Inc. ("Stay Gold" or the "Corporation") is pleased to announce it has raised gross proceeds of $63,750 from the exercise of 425,000 warrants through the Company's Warrant Exercise Incentive Program (the "Incentive Program") (see the Company's news released dated January 11, 2012).
Under the terms of the Incentive Program, each exercised warrant entitles the holder thereof (the "Warrantholder") to receive one common share of the Company (a "Common Share") and one common share purchase warrant, with each common share purchase warrant (each an "Incentive Warrant") entitling the holder to purchase a Common Share at a price of $0.25 from the date of issuance until January 31, 2014. The Company will issue 425,000 common shares and 425,000 Incentive Warrants to Warrantholders in exchange for the warrants that were exercised under the Incentive Program.
All remaining 1,235,000 warrants that were not tendered under the Incentive Program have expired as of January 31, 2012
STAY GOLD INC.
About Stay Gold:
Stay Gold Inc. is a gold focused exploration company with a portfolio of high potential gold prospects. The Corporation's strategic land position, located in the historic gold producing region of Nova Scotia, provides a platform for expedient resource development and new discoveries.
The Corporation's Securities are not listed on any stock exchange and no stock exchange has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information:
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future exploration programs, exploitation activities and events or developments that the Corporation expects, are forwardlooking statements. Although the Corporation believes that the expectations expressed in such forwardlooking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in the forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Contacts:
Stay Gold Inc.
Brendan Matheson
President and CEO
(902) 832-1137
(902) 444 3324 (FAX)
info@staygoldinc.ca
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