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Evolving Gold Corp. (CSE:EVG) (FSE: EV71) (OTCB: EVOGF) (the
Company or
EVG ) announces the resignation of Robert Horsley as a director of the Company effective immediately. EVG would like to thank Mr. Horsley for his service, and to wish him well in his future endeavors.
The Company also announces that it will be undertaking a private placement to raise up to $250,000 through the distribution of up to 5,000,000 shares at $0.05 per unit. Each unit will consist of one share and one transferable share purchase warrant exercisable at $0.08 per share for two years. Funds will be used to pay down existing liabilities, and for general working capital purposes.