Golden Hope Mines Limited Announces Private Placement Financing
April 29 2010 - 4:00PM
Marketwired
Golden Hope Mines Limited (TSX VENTURE: GNH)(PINK SHEETS: GOLHF)
announces that it intends to complete a non-brokered private
placement financing of units ("Units") at a price of $0.18 per Unit
for gross proceeds in the amount of up to $2,000,000 (the
"Offering"). Each Unit consists of one common share of the Company
(a "Common Share") and one Common Share purchase warrant (a
"Warrant"), with each Warrant entitling the holder thereof to
acquire a Common Share at the exercise price of $0.25 per Common
Share for a period of up to 24 months following the closing of the
Offering. In addition, the Company has the option (the
"Over-Allotment Option"), exercisable in whole or in part to offer
for sale additional Units for additional gross proceeds of up to
$2,000,000. If the Over-Allotment Option is fully exercised, the
total gross proceeds of the proposed Offering would be $4,000,000.
The Company intends to use the net proceeds of the Offering to
continue the development of its key projects and for working
capital purposes. The Company may pay finder's fees in connection
with the financing.
The Common Shares, the Warrants and the Common Shares issuable
upon the exercise of the Warrants are subject to resale
restrictions. Closing of the financing is subject to receipt of
regulatory approval, including the approval of the TSX Venture
Exchange.
About Golden Hope Mines Limited:
Golden Hope Mines Limited is a mineral exploration company that
seeks to grow shareholder value through the acquisition,
exploration and development of potentially large-scale gold and
base metal projects suitable for underground and/or open-pit
mining. The company's focus is in the Bellechasse/Beauce Region of
Quebec, Canada. The Bellechasse gold project in Quebec includes the
Timmins 1, Timmins 2 and Ascot gold zones, the new FSG volcanic
environment targets and a number of recently claimed ultra
basic/serpentine bodies. For further information on Golden Hope
Mines Limited please visit www.goldenhopemines.com.
Forward-Looking Information:
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address future
production, reserve potential, exploration drilling, exploitation
activities, the size and use of proceeds of the Offering and events
or developments that the company expects are forward-looking
statements. Although the company believes the expectations
expressed in such statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results or developments may differ materially from those in the
statements. Factors could cause actual results to differ materially
from those in forward-looking statements. These include market
prices, exploitation and exploration successes, and continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward-looking statements. For more information on the
company, investors should review registered filings at
www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Golden Hope Mines Limited Frank Candido President,
Director 514-750-8218 416-864-0175 (FAX)
fcandido@goldenhopemines.com or info@goldenhopemines.com Paradox
Public Relations Corporate Communications 1-866-460-0408
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