June 1, 2010 (FinancialWire) (Go to http://www.financialwire.net/?s=ftrdnwswnd for all of today’s featured news.) — Universal Gold Mining Corp. (OTCBB: UGDM) said it has completed the initial closing of a private placement offering of common stock at $0.10 per share, to foreign and accredited investors. The company sold an aggregate of 23 million shares, resulting in gross proceeds of $2.3.

The company said it has granted registration rights to the investors purchasing shares in the Offering.

New York-based Universal Gold Mining is an early stage company currently pursuing a business strategy in the world-wide gold mining sector, with an initial focus on identifying and acquiring opportunities in the Americas.

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