Pershing Gold Raises $12.2 Million in Private Placements

LAKEWOOD, Jul 31, 2014 (GLOBE NEWSWIRE via COMTEX) Pershing Gold Corporation (OTCQB:PGLC) (the Company ) announced today that it has raised approximately $12.2 million in gross proceeds through the sale of 35,854,259 Units, with each Unit comprised of 1 share of Common Stock and a warrant to acquire 0.4 of a share of Common Stock pursuant to subscription agreements with certain accredited investors. Laidlaw & Co (UK) Ltd. served as exclusive placement agent in connection with the private offerings. The closings of the private placements consisted of the issuance of 35,854,259 Units comprised of 35,854,259 shares of Common Stock and 30-month warrants to acquire 14,341,676 shares of Common Stock at an exercise price of $0.45 per share. The Company expects to use the net proceeds of the private placements for advancement of the Company s Relief Canyon project and for general corporate purposes. The securities issued in the private placements have not been registered under the Securities
http://bit.ly/1ACPOzM