Gold producer, Crescent Gold Limited (ASX:CRE, TSX:CRA), has raised A$8 million in convertible debt.

Due to overwhelming demand a further A$844,000 was raised through a share placement using the Companys existing 15% capacity.
The issue, managed by Oracle Securities, has been placed with sophisticated and professional investors and was closed heavily oversubscribed.


Convertible Note Crescent Gold has finalised an A$8m Convertible Note facility to sophisticated investors.

The Convertible Note facility has a maturity date of 30 June 2012, a 7% coupon rate, and is convertible into ordinary fully paid shares at the lower of $0.05 or 85% of the 5 day VWAP prior to conversion with one option for every two shares subscribed for.
Key Terms of the Convertible Notes 1.

Issued at a Face Value of 5 cents. 2.

Interest Rate of 7% per annum until redeemed or converted. 3.

The Maturity Date is 30 June 2012. 4.

The Notes are convertible at any time before maturity with the conversion price being the lower of $0.05 per share or 85% of 5 day VWAP prior to receipt of conversion notice, with one option for every two shares subscribed for.
In accordance with ASX Listing rule 7.1 part of the Convertible Note facility will be subject to shareholder approval.

Questions can be directed to: Mark Tory or Renee Brickner Managing Director
Geologist, Corporate Communications N.A Perth, Australia
Vancouver, BC Ph: +61 8 6380 7100
Ph: +1-604-802-6806
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