Guyana Frontier Announces Private Placement
16 Mai 2012 - 1:27AM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/ VANCOUVER, May 18, 2012 /CNW/ -
Guyana Frontier Mining Corp. ("Guyana Frontier") is pleased to
announce that it is arranging a non-brokered private placement (the
"Private Placement") to raise aggregate gross proceeds of up to
$1,000,000 through the issuance of up to 16,666,667 units (each a
"Unit") at a price of $0.06 per Unit. Each Unit will be comprised
of one common share of Guyana Frontier and one common share
purchase warrant (a "Warrant"). Each Warrant will be exercisable to
acquire one additional common share of Guyana Frontier at an
exercise price of $0.10 per share, at any time for a one year
period following issuance. The proceeds of the Private Placement
will be used for continued exploration and development of Guyana
Frontier's mineral properties and for general working capital
purposes. All securities issued in the Private Placement will be
subject to a four-month hold period pursuant to applicable
securities laws. A commission and finder's fee of 8% cash and 8%
finder's warrants (each a "Finder's Warrant") may be payable to
parties at arm's length to the Guyana Frontier that have introduced
Guyana Frontier to certain subscribers to the Private Placement.
Each Finder's Warrant will entitle the holder thereof to purchase a
common share in Guyana Frontier at a price of $0.10 per share, at
any time for a one year period following issuance. This news
release does not constitute an offer to sell or a solicitation of
an offer to buy any of the securities in the United States. The
offer and sale of the Units has not been and will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act"), or any state securities laws and may not be
offered or sold within the United States or to or for the account
or benefit of U.S. persons (as defined in Regulation S under the
U.S. Securities Act) unless an exemption from such registration
requirements is available. Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release. FORWARD LOOKING
STATEMENTS This news release contains forward-looking statements
that are based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur, and include, without limitation, statements regarding
the Company's plans with respect to the closing of the Private
Placement and the total proceeds to be raised in the Private
Placement. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements, including the future state of the
financial markets and other economic factors. Any forward-looking
statement speaks only as of the date on which it is made and,
except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update any
forward-looking statement, whether as a result of new information,
future events or results or otherwise. Forward-looking statements
are not guarantees of future performance and accordingly undue
reliance should not be put on such statements due to the inherent
uncertainty therein. Guyana Frontier Mining Corp. CONTACT: For
further information about Guyana Frontier, please visit
ourwebsiteat www.guyanafrontier.com or contact Warren Stanyer,
President and CEO,at (604) 558-0077.
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