Toronto Stock Exchange: VGVANCOUVER, Aug. 16, 2013 /PRNewswire/ - Veris Gold Corp. ("Veris" or the "Company") (TSX: VG) (OTCQB: YNGFF) (Frankfurt Xetra Exchange: NG6A) is pleased to announce it has closed its previously announced offering (the " Offering") of units (the " Units") and flow-through units (the " Flow-Through Units") for aggregate gross proceeds of approximately $8 million. The Company issued 8,448,382 Units at a price of Cdn$0.52, with each Unit comprised of one common share of the Company (a " Unit Share") and one half of one common share purchase warrant (each whole warrant, a " Unit Warrant"). Each Unit Warrant has an exercise price of Cdn$0.60 and entitles the holder thereof to acquire one common share of the Company for a period of thirty-six (36) months following the closing of the Offering. The Company also issued 5,813,100 Flow-Through Units only in Canada at a price of Cdn$0.55, with each Flow-Through Unit comprised of one common share of the Company which qualifies as a "flow-through share" within the meaning of the Income Tax Act ( Canada) (the " Flow-Through Shares") and one half of one common share purchase warrant (each whole warrant, an " FT Unit Warrant"). Each whole FT Unit Warrant has an exercise price of Cdn$0.65 and entitles the holder thereof to acquire one common share of the Company for a period of thirty-six (36) months following the closing of the Offering. The Offering was conducted on a best efforts agency basis pursuant to an agency agreement dated August 9, 2013 (the " Agency Agreement") among the Company and a syndicate of agents (collectively, the " Agents") led by Secutor Capital Management Corporation and including Global Hunter Securities, LLC. Pursuant to the terms of the Agency Agreement, the Company granted the Agents an over-allotment option to purchase up to 900,980 additional Units and up to 581,310 additional Flow-Through Units, to cover over-allocations, if any, and for market stabilization purposes, such over-allotment option exercisable for a period of 30-days from the closing of the Offering. By notice delivered to the Company, the Agents exercised the over-allotment option in-part for the issuance of an additional 580,210 Flow-Through Units at the closing of the Offering. The Agents subsequently issued notice of exercise of the remainder of the over-allotment option for the issuance of an additional 900,980 Units, the closing of which is expected to take place on August 20, 2013. The Company intends to use the net proceeds of the Offering to complete the refurbishment of its Jerritt Canyon mill operations, to complete the development of the underground mine facilities at the Saval 4 Gold Mine, fund bonding related to future reclamation obligations, ensure that debt payments are met and for general working capital purposes. Proceeds from the Flow-Through Units will be used for the funding of exploration activities at the Company's Ketza River property.