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Guyana Precious Metals Inc. Announces Closing of Private Placement Financing to Raise $7,000,000
Guyana Precious Metals Inc. Announces Closing of Private Placement Financing to Raise $7,000,000
About this update from Gpm Metals Inc.
[{"type":"text","content":"\n\n\n\n Dec. 13, 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\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./\n\n\nTORONTO, Dec. 13 /CNW/ - Guyana Precious Metals Inc. (TSX-V:GPM) (the\n "Company") is pleased to announce that it has closed its previously\n announced non-brokered private placement (the "Offering") pursuant to\n which it has issued an aggregate of 70,000,000 units ("Units") at a\n price of $0.10 per Unit, to raise aggregate gross proceeds of\n $7,000,000.  Each Unit consists of one common share of the Company (a\n "Common Share") and one share purchase warrant of the Company, each\n such share purchase warrant entitling the holder thereof to acquire one\n additional Common Share for a period of 24 months at an exercise price\n of $0.13 per share.  Insiders of the Company subscribed for an\n aggregate of 20,800,000 Units in the Offering. \n\n\nAll of the securities issued and issuable in connection with the\n Offering are subject to a statutory hold period expiring on April 11,\n 2011.  The Offering remains subject to the final approval of the TSXV.\n\n\nIn connection with the Offering, Mr. Patrick Sheridan announces that he\n has acquired ownership of an aggregate of 16,400,000 Units on December\n 10, 2010, representing approximately 9.4% of the issued and outstanding\n Common Shares of the Company as at December 10, 2010 (or approximately\n 17.2% on a partially dil...