Business
Guyana Precious Metals Announces $7,000,000 Private Placement
Guyana Precious Metals Announces $7,000,000 Private Placement
About this update from Gpm Metals Inc.
[{"type":"text","content":"\n\n\n\n Oct. 29, 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\nNOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n THE US\n\n\nTORONTO, Oct. 29 /CNW/ - Guyana Precious Metals Inc. (TSX-V: GPM) ("Guyana") is pleased to announce a non-brokered private placement (the "Placement") of up to 70,000,000 units ("Units") at a price of $0.10 per Unit for gross proceeds of up to $7,000,000.\n\n\nEach Unit will be comprised of one common share (a "Common Share") of Guyana and one Common Share purchase warrant (a "Warrant").\n\n\nEach Warrant will be exercisable to acquire one Common Share at a price\n of $0.13 until the date that is 24 months following the closing date of\n the Placement. Insiders of Guyana, and their affiliates, are expected\n to subscribe for up to 25,000,000 of the Units being distributed under\n the Placement.\n\n\nGuyana intends to use the net proceeds of the Placement for the\n acquisition, exploration and development of properties in the Guiana\n Shield, South America and for general working purposes.  The Placement\n remains subject to the approval of the TSX Venture Exchange.\n\n\n\n\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider\n (as that term is defined in the policies of the TSX Venture Exchange)\n accepts responsibility for the adequacy or accuracy of this release.\n\n\n\n\n\n\n\n%SEDAR: 00008455E\n\n\n \n Guyana Precious Metals Inc. Suite 1205 141 Adelai...