GOLDGROUP MINING INC. ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION

About this update from Goldgroup Mining Inc.

[{"type":"text","content":"\n\n\n Mar. 4, 2011 (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\nTHIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT\n INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR\n DISSEMINATION IN THE UNITED STATES.\n\n\nVANCOUVER, March 4 /CNW/ - Goldgroup Mining Inc. (TSX: GGA) ("Goldgroup"\n or the "Company") is pleased to announce that in connection with its\n previously announced offering of 25 million common shares at a price of\n Cdn$1.40 per share (the "Offering"), the underwriters have determined\n to exercise the over-allotment option in full to acquire an additional\n 3.75 million common shares at Cdn$1.40 per share to raise additional\n aggregate gross proceeds of Cdn$5.25 million. The Company expects to\n close the Offering concurrently with the over-allotment option on or\n about March 10, 2011.\n\n\nDahlman Rose & Company, LLC and Canaccord Genuity Corp. acted as joint\n book-running managers for the Offering along with Jennings Capital Inc.\n acting as co-manager. Dahlman Rose & Company, LLC will only be\n conducting sales into the United States.\n\n\nThe securities have not been and will not be registered under the U.S.\n Securities Act of 1933, as amended, or under any state securities laws\n and may not be offered or sold in the United States, absent\n registration or an applicable exemption from the registration\n requirements. This news release does not constitute an offer to sell or\n the solicitation o...

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