Business
Goldgroup Announces $3 Million Private Placement
Goldgroup Announces $3 Million Private Placement
About this update from Goldgroup Mining Inc.
[{"type":"text","content":"\n\n\n\n Nov. 24, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nTSX:GGA\n\n\nVANCOUVER, Nov. 24 /CNW/ -Goldgroup Mining Inc., TSX:GGA, ("Goldgroup"\n or the "Company") announces a private placement with Mr. Sam Magid. The\n placement consists of 3,000,000 units at $1.00 per unit for gross\n proceeds of $3,000,000. Each unit consists of one common share of the\n Company and one warrant to purchase an additional common share at $1.25\n per share for a term of five years. The securities issued in connection\n with the private placement are subject to a four month hold period. A\n cash commission equal to 6 % of the gross proceeds will be paid in\n connection with this placement. This private placement is subject to\n the approval of the Toronto Stock Exchange.\n\n\nAbout Goldgroup\n\n\nGoldgroup is a Canadian-based gold production and exploration Company\n focused exclusively on Mexico, targeting growth in gold production,\n mineral resources, profitability and cash flow from a portfolio of\n production, development and exploration stage projects. Goldgroup is\n led by a team of highly successful and seasoned individuals with\n extensive expertise in exploration, corporate finance and mine\n development in Mexico.\n\n\nThe Company owns and operates the Cerro Colorado Gold Mine in Sonora,\n Mexico. The Company's property portfolio also includes its interests in\n the Caballo Blanco project in Veracruz and the San José de Gracia\n high-grade gold project i...