Over the last 5 days CB gold, or CBJ on the TSX is up 104% CB Gold Inc. is engaged in the business of mineral exploration in Colombia, South America. For those of you who like Penny stock investing this is a very interesting play. The most recent news from CB Gold is positive

CB Gold Announces $11 Million Non-Brokered Private Placement
CB Gold Inc. (TSX-V: CBJ) (“CB Gold” or the “Company”) announces that it has arranged for a non-brokered private placement of 10,000,000 units (the “Units”) at a price of Cdn$1.10 per Unit

The Company has agreed to pay a finders’ fee of Cdn$330,000, payable in common shares of the Company to be issued at market price at the date of closing of the private placement.

CB Gold intends to use the proceeds from the private placement to fund exploration and development at the Company’s Colombian properties, working capital and general corporate purposes.

“We are very pleased to announce this financing and strengthen our relationship with Lumina, a group with a very successful track-record, such as their investment in near-by Ventana Gold. This transaction is extremely positive for the Company moving forward, and will allow us to continue expanding the newly discovered high-grade zone at Real Minera” commented Fabio Capponi, CB Gold’s CEO.

CB Gold Company Description

CB Gold Inc. is engaged in the business of mineral exploration in Colombia, South America. CB Gold has one wholly owned subsidiary, Cedar Business Investment Ltd. (Cedar), and Cedar has one wholly owned subsidiary, Leyhat Corporation (Leyhat). Both Cedar and Leyhat were acquired by CB Gold on July 20, 2009. Leyhat has one branch in Colombia, Leyhat Colombia Sucursal, which holds its interest in the Norte de Santander Gold Project and the Vetas Gold Project. The Norte de Santander Gold Project and the Vetas Gold Project are referred to as the Colombia Projects. As of December 31, 2010, it held the rights to explore and develop two exploration properties in Colombia totalling approximately 62,000 hectares. On October 28, 2010, CB Gold and First Source Resources Inc. completed the Amalgamation. In connection with the Amalgamation, CB Gold Inc., the predecessor company (Private CB Gold), and First Source ceased to exist and the amalgamated company continued under the name CB Gold Inc.

Learn more about CB Gold on the Google Finance page

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