Steve Montgomery????

2014-12-30 21:24 ET - News Release

Ms. Lori McClenahan reports

INTIGOLD MINES LTD. CLOSES $300,000 NON-BROKERED PRIVATE PLACEMENT

Subject to regulatory approval, Intigold Mines Ltd. has closed $300,000 of the non-brokered private placement previously announced on Oct. 14, 2014. The private placement consists of six million units at a price of five cents per unit for gross proceeds of $300,000. Each unit consists of one common share and one non-transferable share purchase warrant. Each whole warrant entitles the holder to purchase an additional common share at a price of 10 cents per share for a period of 24 months following closing. In connection with the private placement, finders' fees of 10 per cent, totalling $15,500 cash and 58,000 units, will be paid. The finders' units are on the same terms as the private placement units. In accordance with securities legislation currently in effect, the securities issued will be subject to a hold period of four months plus one day from the date of closing, expiring May 1, 2015. The proceeds of the private placement will be used for working capital.

The company also announces that on Jan. 1, 2013, the company entered into a consulting agreement with Steve Montgomery to provide investor relations services. In consideration of his services, Mr. Montgomery was granted incentive stock options to purchase 100,000 common shares of the company at a price of 10 cents for a period of two years from Jan. 6, 2013. Mr. Montgomery subsequently advised the company that he would not be providing these services, and the company has cancelled his stock options.

The company also announces that pursuant to the company's stock option plan, the company has granted incentive stock options to directors, officers and consultants of the company to purchase an aggregate one million shares in the capital of the company at an exercise price of 10 cents per share for a period of two years.

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