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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (19519)	7/19/2016 10:20:48 AM
From: Goose94	Read Replies (1) \| Respond to of 202716

Guyana Goldfields (GUY-T) July 19, '16 is pleased to announce that it has closed its previously announced bought deal offering of 13,830,000 common shares, at a price of C$9.40 per Common Share (the "Offering Price") for gross proceeds of approximately C$130 million. Of the 13,830,000 Common Shares sold, 12,830,000 Common Shares were issued and sold by the Company and 1,000,000 Common Shares were sold by Patrick Sheridan (the "Founding Shareholder"). The Common Shares were sold pursuant to an underwriting agreement with a syndicate of underwriters led by BMO Capital Markets, Scotiabank and RBC Capital Markets and including Cormark Securities Inc. and TD Securities Inc. (the "Underwriters"). The net proceeds of the Offering are expected to be used to fund an expansion of the Aurora Gold Mine ("Aurora Mine"), which is expected to be completed in 2017 and which is expected to increase capacity from 5,000 tonnes per day to 8,000 tonnes per day, for expanded exploration activities, for potential debt repayment, and for general corporate purposes. The net proceeds from the secondary offering will be paid to the Founding Shareholder. The Company will not receive any proceeds from the secondary offering. The exploration activities will focus on infill drilling at the Aurora Mine targeting near-surface inferred resources and increasing drill density at Aleck Hill, and in addition will include drill-ready targets within a 30 km radius of the Aurora Mine and on the Aranka concession. The Company has also granted the Underwriters an option, exercisable at the Offering Price for a period of 30 days following the closing of the Offering, to purchase up to an additional 2,074,500 common shares of the Company to cover over-allotments, if any, and for market stabilization purposes. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful. About Guyana Goldfields Inc.: Guyana Goldfields Inc. is a Canadian based mid-tier gold producer primarily focused on the exploration, development and operation of gold deposits in Guyana, South America. The 100%-owned Aurora Gold Mine achieved commercial production January 1, 2016 and has a total gold resource of 6.54 million ounces in the measured and indicated categories (62.83 million tonnes at 3.24 g/t Au) as well as an additional 1.82 million ounces in the inferred category (16.93 million tonnes at 3.34 g/t Au). For further details, please refer to the report entitled "AGM Inc. Aurora Gold Project - Updated Feasibility Study" dated January 18, 2016 available on SEDAR at www.sedar.com. SOURCE Guyana Goldfields Inc. Guyana Goldfields Inc., Scott Caldwell, President and CEO; Jacqueline Wagenaar, Vice President, Corporate Communications, Tel: (416) 628-5936 Ext. 5295, E-mail: jwagenaar@guygold.com , Website: www.guygold.com