Golden Patriot Mining Announces Non-Brokered Private Placement.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Golden Patriot Mining Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:GPM GPM - General Purpose Macro-generator ) is pleased to announce that it is pursuing a non-brokered private placement to raise gross proceeds of approximately CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $250,000 (the "Offering"), with an over-allotment of an additional CDN $50,000, which is all subject to the approval of the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. . The Offering will consist of 1,315,790 units (the "Units) of the company on a best efforts basis. Each Unit is priced at $0.19 and shall consist of one common share and one-half (1/2) of one share purchase warrant. Each whole warrant (the "Warrant") shall be exercisable into one common share of the company for eighteen (18) months from the closing date (the "Closing Date") at an exercise price of CAD $0.30. The over-allotment will comprise of an additional 263,158 units. The Units will be subject to regulatory resale restrictions. In relation to the Offering, Golden Patriot Mining may pay finder's fees in the form of cash commissions of up to 7% of the aggregate gross proceeds raised and units (the "Broker Warrants") up to 7% of the total units subscribed. The proceeds of this private placement will be used by Golden Patriot Mining for general working capital and to fund acquisition activities for high quality base, precious, and other mineral exploration projects. ABOUT GOLDEN PATRIOT MINING: Golden Patriot Mining is a junior mineral exploration company seeking to acquire, explore and develop highly prospective precious, base metal and other mineral exploration projects in Central/Latin America, India, and in other highly prospective international jurisdictions. Given the historic high commodity prices for base and precious metals Precious Metals Valuable metals such as gold, iridium, palladium, platinum, and silver. Notes: Investing in precious metals can be done either by purchasing the physical asset, or by purchasing futures contracts for the particular metal. , such as copper and gold, respectively, the Company believes that the projects it acquires for exploration and development will be of economic interest. This news release includes certain "forward looking statements" within the meaning of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Without limitation, statements regarding potential mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. and resources, exploration results, and future plans and objectives of the Company are forward looking statements that involve various degrees of risk. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward looking statements: changes in the world wide price of mineral commodities, general market conditions, risks inherent in mineral exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The TSX Venture Exchange has not reviewed and does not accept resp onsibility for the adequacy or accuracy of this news release. Golden Patriot Mining Inc. (TSX VENTURE:GPM) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion