Golden Reign Resources Ltd.: $7.5 Million Private Placement Close Oversubscribed
(firmenpresse) -
Golden Reign Resources Ltd.: $7.5 Million Private Placement Close Oversubscribed
Golden Reign Resources Ltd. (the "Company" or "Golden Reign")(TSX-V: GRR) is pleased to announce that it has closed a non-brokered private placement of 16,851,197 units at a price of $0.45 per unit to raise gross proceeds of approximately $7,500,000. Each unit is comprised of one common share and one share purchase warrant which entitles the holder to purchase an additional common share at a price of $0.75 for a period of two years. In connection with the offering, the Company has agreed to pay finder's fees of $249,468 cash and 494,153 warrants priced at $0.75 per share exercisable for a period of two years. The common shares issued pursuant to this private placement are subject to a four month hold period. The private placement and payment of the finder's fees are subject to acceptance by the TSX Venture Exchange.
Proceeds of the placement will be applied towards the second phase drill program and costs related to the continued exploration of the San Albino-Murra Gold Property in Nicaragua and for general working capital.
On behalf of the Board,
"Kim Evans"
Kim Evans, CGA
President & CEO
For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.
Forward-Looking Statements: Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Leseranfragen:
Golden Reign Resources Ltd.
595 Howe Street, Suite 501
Vancouver, BC; V6C 2T5
Kanada
Kim Evans, CGA
President & CEO
Tel.: +1 604 685-4655
" alt="AMARILLO GOLD DRILLS 17 METRES OF 3.17 g/t Au in 2nd ROUND OF RESULTS FROM INFILL DRILL PROGRAM AT MARA ROSA PROJECT, BRAZILDatum: 04.03.2011 - 08:22 Uhr
Sprache: Deutsch
News-ID 28398
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Wien
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Business News
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