 |
|
|
| | December 18, 2009
Golden Chalice Resources: Private Placement Announcement
|
| | Golden Chalice Resources Inc. (TSX-V: GCR) ("The Company") is pleased to announce that it has arranged for a private placement of up to 10,000,000 units for total proceeds of up to $1,400,000. The financing will consist of flow through units priced at $0.14 or non-flow through units priced at $0.12. Each of the flow-through units will consist of one flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for two years at a price of $0.15 per share. Each of the non flow-through units will consist of one non flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for four years at a price of $0.15 per share in years one and two and $0.30 per share in years three and four. In accordance with Exchange policies, finders' fees may be paid on the funds raised. The private placement is subject to regulatory approval.
Proceeds from the private placement will be used for exploration expenditures on the Company's Ontario mineral properties as well as for general working capital.
About Golden Chalice
The Company's continues to focus on its flagship Langmuir Project where 2007 drilling intersected 72 meters of 1.14% nickel. The Langmuir Project is easily accessible by road and is near existing mining infrastructure in the Timmins camp, host to numerous world-class gold and base metal deposits. The Company owns 100% of the property which covers more than 30 km of favorable stratigraphy with potential for hosting Kambalda-style deposits.
The Company is also advancing its Timmins West property, which contains a number of porphyries and similar geology to the Lake Shore Gold ground, approximately 30 km to the northeast, as well as its Abitibi East gold property.
CONTACT INFORMATION
Corporate Inquiries: Alan Campbell or Kevin Hull, Investor Relations
Phone: (604) 685-2222
Email: info@goldenchaliceresources.com
Website: www.goldenchaliceresources.com
AGORACOM Investor Relations: Email: GCR@agoracom.com
Website: http://www.agoracom.com/ir/goldenchalice
Visit Golden Chalice's web-site: www.goldenchaliceresources.com to see Smartstox interviews with Company Chairman and President.
This document contains certain forward looking statements which involve known and unknown risks, delays and uncertainties not under the corporation's control which may cause actual results, performance or achievements of the corporation to be materially different from the results, performance or expectation implied by these forward looking statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
| |
| | You can view the Next News Releases item: Thu Jan 7, 2010, Golden Chalice Resources Appoints Vice President of Exploration
You can view the Previous News Releases item: Tue Dec 15, 2009, Golden Chalice Resources Acquires Two Properties in West Timmins Gold District along Destor-Porcupine Fault
You can return to the main News Releases page, or press the Back button on your browser.
|
|
|
