SearchGold Resources Inc. Announces the Filing of a Preliminary Prospectus by Golden Share Mining Corporation
November 13 2007 - 4:26PM
Marketwired
MONTREAL, QUEBEC (FRANKFURT: S1O) is pleased to announce that
Golden Share Mining Corporation has filed, on November 12, 2007,
with the securities regulatory authorities in each of the provinces
of Canada, a preliminary prospectus for an initial public offering
of a minimum of 1,330 units A and 490 units B and a maximum of
2,190 units A and 1,470 units B (together the "Units") for total
maximum gross proceeds of $3,722,250.
Each Unit A consists of: (i) 2,300 "flow-through" common shares
at a price of $0.35 per share; and (ii) 700 common shares at a
price of $0.30 per share. Each Unit B consists of: (i) 3,400 common
shares at a price of $0.30 per share; and (ii) 3,400 common share
purchase warrants with each warrant entitling the holder to acquire
one additional common share of Golden Share at a price of $0.35 per
share for a period of two years from the closing of the
offering.
Canaccord Capital Corporation will act as lead agent in
connection with the initial public offering. The distribution by
Searchgold of a portion of its Golden Share shares will be effected
by way of dividend to Searchgold's shareholders, and will not
affect Searchgold's issued and outstanding shares. Searchgold's
shareholders of record at the close of business on the distribution
record date will be entitled to receive Golden Share shares.
Searchgold will issue a press release announcing the dividend
record date and distribution date once they are determined.
The purpose of the distribution is to make Golden Share a public
company. Golden Share will focus on exploration for gold in Canada,
while Searchgold will devote itself to the developments of its
African projects. Proceeds from the IPO will be used by Golden
Share to finance the exploration programs on the Forsan and
Malartic Lakeshore properties and for working capital purposes.
About Searchgold Resources Inc.
Searchgold Resources is a Canadian-based mining exploration
company whose primary mission is to target, explore and develop
gold deposits in Africa. The expansion strategy executed in 2006
set the stage for the Company's development in 2007 that involves
increasing activity on the new blue-sky properties and the advanced
projects as well as some potential acquisitions.
Forward-looking Statements
This news release contains certain forward-looking statements.
These forward-looking statements are subject to a variety of risks
and uncertainties beyond the ability of Searchgold to control or
predict, which could cause actual events or results to differ
materially from those anticipated in such forward-looking
statements, including risks disclosed in filings with the Canadian
securities regulators made by Searchgold. Accordingly, readers
should not place undue reliance on forward-looking statements.
If you would like to receive press releases via e-mail please
contact: info@searchgold.ca
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts: Searchgold Resources Inc. Philippe Giaro President
& CEO 32-473-5229 phgiaro@skynet.be Searchgold Resources Inc.
Denis Tremblay Vice-President 514-866-4224 info@searchgold.ca
www.searchgold.ca CHF Investor Relations Alison Tullis Account
Manager 416-868-1079 x233 alison@chfir.com
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