Golden Goose - Closing of $3,099,350 Private Placement -
MONTREAL, March 26 /CNW Telbec/ - (MARKET WIRE) -
Golden Goose Resources Inc.
(TSX VENTURE : GGR) (the "Company"), announces that it has closed a non-brokered private placement for a total of $3,099,350 announced on March 21, 2007.
A total of 4,323,000 common shares were issued as part of two simultaneous placements. In one placement, 2,858,000 units were issued at a price of $0.70 per unit, each unit consisting of one common share and one half of a warrant to purchase one common share, for an aggregate amount of $2,000,600.
Each whole warrant entitles its holder to purchase one common share at a price of $0.95 for a period of 12 months.
In the other placement, 1,465,000 flow-through common shares were issued at a price of $0.75 per share, for an aggregate amount of $1,098,750.
The placements received regulatory approval of TSX Venture on March 22, 2007.
The common shares, the warrants and the common shares underlying the warrants are all subject to resale restriction until July 27, 2007.
The Company will use the proceeds of the flow-through funds to fund the drilling programs at the Company's 100% owned Magino property and on its 100% owned Lac Levac property.
The Magino property is located next door to the Richmond/Patricia's "island gold" project located 50 kilometers Northeast of Wawa, Ontario.
The Company will use the proceeds of the non flow-through funds for general corporate purposes.
Golden Goose Resources Inc.
is a Canadian public company listed on the TSX Venture Exchange under the symbol GGR.
The Company is principally engaged in mineral exploration and acquisition and has a portfolio of gold, platinum group metals, and nickel properties in Ontario and Quebec.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Source: Canada NewsWire (March 26, 2007 - 3:49 PM EDT)
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