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Vancouver, British Columbia – April 11, 2012 – Batero Gold Corp. (“the Company”) (TSX-V: BAT) wishes to announce that it has entered into an agreement with Raymond James Ltd. and Cormark Securities Inc., (collectively the "Underwriters"), pursuant to which the Underwriters have agreed to purchase special warrants (the "Special Warrants") to be issued by way of a private placement, at a price (the “Issue Price”) to be determined in the context of the market (the "Offering"). The Company has also granted the Underwriters an option, giving notice to the Company at any time for up to 30 days following the closing date (as herein after defined), to acquire additional Special Warrants, at the Issue Price, to cover over-allotments, if any.
Each Special Warrant will entitle the holder to acquire, upon exercise and for no additional consideration one unit (a “Unit”), consisting of one common share (“Common Share”) in the capital of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant shall entitle the holder to acquire an additional Common Share (a “Warrant Share”) during the period ending 24 months following the closing of the Offering.
The Company has agreed to use its reasonable best efforts to obtain, within 60 days after the closing of the Offering (the “Qualification Deadline”), a receipt for a final short form prospectus qualifying the distribution etc etc