VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 29, 2012) - Precipitate Gold Corporation (TSXV:PRG) -
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
Precipitate Gold Corporation ("Precipitate") is pleased to announce that the company's common shares commenced trading today on the Toronto Venture Exchange (TSX.V) under the trading symbol "PRG".
Precipitate CEO, Darcy Krohman, states, "We know that the market has been difficult for the past few months. In fact, Precipitate is one of the very few companies completing an IPO during this period. Management wishes to thank shareholders whose support has made this possible."
Adrian Fleming, Chairman of the Board, said, "Weak markets present great opportunities to review and acquire assets that have been dramatically marked down. In addition to advancing our existing project base, management is currently reviewing gold projects in several regions. We view existing market conditions as something to take advantage of for the benefit of our shareholders."
Precipitate is focused on exploring for new gold deposits in southern Yukon Territory and northern British Columbia as well as seeking additional projects with the potential to rapidly add value for shareholders. With a proven management team responsible for recent takeovers with valuations exceeding $280 million, as well as a growing portfolio of 15 properties in Yukon and four in BC, the company is well positioned for growth in 2012. This summer, Precipitate will be exploring its two flagship properties - Reef (Yukon) and Gemini (BC). Precipitate currently has approximately 25.5 million shares issued and a working capital of $2.4 million.
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