Paramount Gold and Silver Corp. Completes Private Placement Financing

Paramount Gold and Silver Corp. has completed a private placement financing of 1,071,429 million units priced at $1.40 per unit (all funds in CDN dollars) for proceeds of $1.5 million. Each unit consists of one common share and 1/2 of one common share purchase warrant with a strike price of $2.10 and an expiry of one year or at a strike price of $2.50 and an expiry of two years.

This financing was completed by Oriental Overseas Development Co. of Hong Kong and Banque Pasche Liechtenstein pursuant to Regulation S of the Securities and Exchange Act of 1933 with a restriction from sale of 6 months in the USA and 4 months in Canada and is conditional upon stock exchange approvals.