Golden Goliath arranges $600,750 private placement
Golden Goliath Resources Ltd GNG
Shares issued 17,985,001 Apr 24 close $0.45
Thu 25 Apr 2002 News Release
Also Agnico-Eagle Mines Ltd (AGE)
Mr. J. Paul Sorbara of Golden Goliath reports
$600,750 PRIVATE PLACEMENT ANNOUNCED
Golden Goliath has retained Canaccord Capital Corporation as agent for a
private placement of up to 1,335,000 units at 45 cents per unit to raise
gross proceeds of $600,750. Each unit consists of one share plus one share
purchase warrant, exercisable for a term of 18 months following closing, at
a price of 50 cents in the initial 12 months of the term, and at a price of
60 cents thereafter. Canaccord Capital will be paid an 8-per-cent cash
commission, an administration fee, and will receive agent's warrants equal
to 10 per cent of the units placed having the same terms as the warrants
forming part of the units.
The placees are Agnico-Eagle Mines of Toronto, Ont. ($500,400), and a
United Kingdom investor ($100,350). Agnico-Eagle has been a shareholder of
Golden Goliath since its initial public offering in October, 2000. The
company is pleased with this continued show of confidence and will use the
additional finances for the expansion of the drilling program now under way
on its 100-per-cent-owned Uruachic gold-silver properties located in
Chihuahua, Mexico.
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