Shore Gold, a Canada-based corporation engaged in the acquisition, exploration and development of mineral properties, with a focus on the diamond sector, has announced that it has successfully closed a private placement, on a bought deal basis, of 21,906,700 Flow-Through Common Shares at a rate of $0.25 per share for aggregate gross proceeds of $5,476,675.

The proceeds will be used prior to December 31, 2015, for expenses on its exploration activity in Canada. The company either individually or through JVs, is engaged in conducting bulk sampling, evaluation, feasibility and pre-feasibility studies on different kimberlite sources in the Star Diamond project area which is spread over 9,280 hectares owned 100 percent by Shore and covering 23 contiguous mineral dispositions. The project area lies approximately 60 kilometres east of Prince Albert, Saskatchewan, a major supply centre for Northern Saskatchewan.

Underwriters to the placement, Canaccord Genuity Corp., together with Mackie Research Capital Corporation, received cash commission of 6.0% of the gross proceeds raised in the Offering as well as warrants to purchase a number of common shares equal to 6% of the number of Flow-Through Common Shares issued pursuant to the Offering exercisable at any time up to 18 months following the closing of the Offering at $0.25 per share.

The Offering is subject to the Exchange’s acceptance of requisite regulatory filings.