GOLDGROUP MINING INC. ANNOUNCES INCREASE IN OFFERING SIZE AND PRICING OF COMMON SHARE OFFERING

About this update from Goldgroup Mining Inc.

[{"type":"text","content":"\n\n\n Mar. 2, 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\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS\n NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR\n DISSEMINATION IN THE UNITED STATES./\n\n\nVANCOUVER, March 2 /CNW/ - Goldgroup Mining Inc. (TSX: GGA) ("Goldgroup"\n or the "Company") is pleased to announce that it has entered into an\n underwriting agreement with a syndicate of underwriters to complete an\n increased offering of 25.0 million common shares at a price of Cdn$1.40\n per share (the "Offering Price") to raise aggregate gross proceeds of\n Cdn$35.0 million (the "Offering"). This represents an increase of 5.0\n million common shares from the previously announced financing. The\n Company has also granted the underwriters an option to purchase up to\n 3.75 million additional common shares at the Offering Price within 30\n days following closing to cover over-allotments, if any, and for market\n stabilization purposes. A final short form prospectus has been filed in\n connection with the Offering with the securities regulators in Alberta,\n British Columbia and Ontario. The Company expects to close the Offering\n on or about March 9, 2011.\n\n\nDahlman Rose & Company, LLC and Canaccord Genuity Corp. are acting as\n joint book-running managers for the Offering along with Jennings\n Capital Inc. acting as co-manager. Dahlman Rose & Company, LLC will\n only be conducting sales int...

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