VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 27, 2012) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Abzu Gold ("Abzu" or "Company") (TSX VENTURE:ABS)(OTCQX:ABZUF) has further revised the terms of its non-brokered private placement financing previously announced on July 17, 2012 and August 3, 2012.
The Company will now be selling up to 5,000,000 units (the "Units") at a price of $0.11 for gross proceeds of up to $550,000. Each Unit shall consist of one common share of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant shall be exercisable into an additional Share for a period of 12 months from closing at an exercise price of $0.125.
The Company continues to negotiate with Stonehouse regarding the terms of its previously announced strategic investment. The terms of such investment will be disclosed upon conclusion of the negotiations.
Closing of the non-brokered financing is anticipated to occur on or about October 5, 2012 and is subject to receipt of applicable regulatory approvals including approval of the TSX Venture Exchange. The securities issued will be subject to a standard four month hold period.
On behalf of the board of directors of ABZU GOLD LTD.
Tim McCutcheon, Chief Executive Officer
Neither 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 press release, which has been prepared by management.