July 22 (Reuters) - Steppe Gold Ltd STGO.TO :
* STEPPE GOLD LTD.: DEVELOPMENT AND FINANCING UPDATE
* STEPPE GOLD LTD - EXPECTS TO PRODUCE ABOUT 40,000OZ OF GOLD PER ANNUM IN INITIAL YEARS OF PRODUCTION FROM HEAP LEACH OPERATION
* STEPPE GOLD - INTENDS TO ACCOMMODATE ADDITIONAL ORDERS IN AN UPSIZED FURTHER TRANCHE OF US$3.0 MILLION
* STEPPE GOLD LTD - OFFERING IS NOW PROJECTED TO RAISE AGGREGATE GROSS PROCEEDS OF $8.4 MILLION IN DEBENTURES