Levon Resources Ltd. Announces CDN$7.5 Million Bought Deal Financing
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Levon Resources Ltd. (“Levon” or the “Company”) is pleased to announce that it has entered into an
agreement with Canaccord Genuity Corp. (the “Underwriter”), to sell 10,000,000 Units (the “Units”) at a price
of CDN$0.75 per Unit for aggregate gross proceeds of CDN$7,500,000 (the “Offering”). Each Unit will consist
of one common share of the Company and one-half of one common share purchase warrant (each whole
warrant, a “Warrant”). Each Warrant will entitle the holder to subscribe for one additional common share for
period of 18 months from the closing of the Offering at an exercise price of CDN$1.20. In the event that after
four months and one day after the closing of the Offering, the volume weighted average trading price of the
Company’s common shares on the TSX Venture Exchange, for a period of 15 consecutive trading days exceeds
CDN$1.75, the Company may, within five days after such an event, provide notice to the warrant holders of
early expiry and thereafter, the Warrants will expire on the date which is 30 days after the date of the notice to
the warrant holders.
The Company will grant the Underwriter an over-allotment option to purchase up to an additional 3,334,000
Units for additional gross proceeds of up to CDN$2,500,250, exercisable 48 hours prior to the closing of the
In addition, the Company also announces that it will conduct a non-brokered private placement of up to
CDN$1,000,000 in Units under similar terms as above.
The Company intends to use the net proceeds of the Offering to conduct exploration activities on its Cordero
Project in Mexico, and for general working capital purposes.
The Offering and the non-brokered private placement are scheduled to close on or about August 31, 2010 and is
subject to certain conditions including, but not limited to, rece