CGA Mining Ltd (TSX:CGA) and Ratel Gold Ltd (TSX:RTL) announced today that Ratel’s IPO, a spin-off of CGA’s African properties, has closed and that 70,000,000 common shares on the TSX have been issued at 20 cents, for a total of $14 million. CGA maintains a 20% holding in Ratel. The funds will be used to finance exploration at its Segilola Gold Project in Nigeria, its Mkushi Copper Project in Zambia and for administrative costs. At Segilola, Ratel has a NI43-101 indicated resource of 520,000 ounces of gold at a grade of 4.4 grams per tonne.
Contact: Independent Chairman Mark Savage, 505.344.2822