May 4, 2006 TSX Symbol: ELT
Financing Has Closed
The Company is pleased to announce the closing of the non-brokered private
placement of 1,876,667 units at a price of $0.12 a unit, first announced April 3, 2006.
Each unit consists of 1 share and 1 share purchase warrant; the warrants are
exercisable for a two year period, the first year at $0.20 per warrant and the second
year at $0.30 per warrant. The company will use $110,000 to post a reclamation Bond
and release the five individuals from the bond they posted on Electra's behalf. The
remaining $115,000 will be used for working capital.
On behalf of the Board of Directors,
“J. T. Shearer”
President
The private placement and the options are subject to regulatory approval.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or
accuracy of the contents herein.
For further information, please see website at www.electragoldltd.com or contact
A. Salman Jamal, Syndicated Capital Corp. 604-694-1994 info@syndicatedcc.com
www.syndicatedcc.com