Black Dragon Gold Corp. announced that is has successfully closed a private placement to raise $8.5 million from a large number of new institutional and private investors. In addition to closing the private placement, the company also announced that it has identified and appointed a new Board of Directors to lead the company through its next chapter.

The current Board will resign effective immediately after the settlement of the loan with RMB. The loan will be settled with the proceeds of the capital raising and is scheduled for 5 July 2017. The incoming Board of Directors and management have significant experience in operating exploration and pre-development mining projects, particularly in Europe.

The new Board of Directors comprises: Mr. Jonathan Battershill as Non-Executive Chairman; Mr. Paul Cronin as Chief Executive Officer and Managing Director; Mr. Alberto Lavandeira as a Non-Executive Director; and Mr. Richard Monti as a Non-Executive Director. Mr. Jonathan Battershill has 20 years international experience in mining, business development and finance; and mining industry experience includes senior operational and business development roles at WMC Resources Limited and mining focused senior equity analyst roles at Hartleys, Citigroup and UBS. Mr. Paul Cronin was resource focused fund manager and investment banker, with considerable experience in relation to financing resource projects.

Most recently CEO and Director of ASX listed Anatolia Limited and prior to that Vice President at RMB Resources. Mr. Alberto Lavandeira is qualified mining engineer with 38 years' experience operating and developing mining projects, currently CEO and Director of Spanish copper producer Atalaya Mining. Mr. Richard Monti has broad experience from 30 years working in the technical, commercial, marketing and financial fields in the exploration and mining industries and currently a director of Pacifico Minerals Ltd.