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12/15/2005 10:27:06 AM ET
PCFG $1.5 Million Debenture Financing

TORONTO, Dec 15, 2005 /PRNewswire-FirstCall via COMTEX/ -- Pacific Gold Corp. (OTCBB: PCFG) announced today that it closed the sale of an additional $1,500,000 in aggregate principal amount of convertible debentures to the investors in its $4,000,000 April 2005 debenture offering.

The sale of the original issue discount convertible debentures were made on similar terms to the April issuance. The company received approximately $1,080,000 after offering expenses and the interest discount. The debentures are due December 13, 2007 and have an effective interest rate of 10%. They are convertible at any time prior to maturity, at the option of the holder, at the rate of $.30. The investors also were issued warrants to purchase four million shares of common stock, exerciseable at $.10 per share. Additionally, the company agreed to modifications of the terms of warrants previously issued to the investors.

The Company intends to use the proceeds for equipment purchases, exploration activities, acquisitions, debt service and general working capital purposes.

Additional information about the financing details can be found in the Company's 8-K filing.

To find out more about Pacific Gold Corp. (OTCBB: PCFG), visit our website at http://www.pacificgoldcorp.com/. Or contact the Company directly at 416-214-1483.

About the Company

The Company's business plan provides for the acquisition and development of production-ready and in-production mining operations. The Company is currently focused on alluvial gold and base metals operations located in western North America. Pacific Gold Corp. owns four operating subsidiaries. Nevada Rae Gold, Inc. ("Nevada Rae") owns and operates the Black Rock Canyon gold mine, located in north-central Nevada. Pilot Mountain Resources Inc. ("Pilot Mountain") owns Project W, a large tungsten based deposit in Nevada. Fernley Gold, Inc. ("Fernley Gold") acquired exclusive lease rights to mine the Lower Olinghouse Placers in north-western Nevada. Oregon Gold, Inc. ("Oregon Gold") owns the Bear Bench claims and Defiance mine, located in south-western Oregon.

This news release includes forward-looking statements that reflect Pacific Gold Corp.'s current expectations about its future results, performance, prospects and opportunities. Pacific Gold Corp. has tried to identify these forward-looking statements by using words and phrases such as "may", "will", "expects", "anticipates", "believes", "intends", "estimates", "should", "typical", "we are confident" or similar expressions. These forward- looking statements are based on information currently available to Pacific Gold Corp. and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects of opportunities in the remainder of 2013 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.

SOURCE Pacific Gold Corp.

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