VANCOUVER, July 28 /CNW/ - Gitennes Exploration Inc. (TSX-GIT) announces that further to its news release of June 15, 2009 the Company has amended its private placement to issue 7,900,000 units at a reduced price of $0.07 per unit (from $0.10) for gross proceeds of up to $553,000. Each unit will now consist of one common share and one half share purchase warrant. Each half warrant entitles the holder to purchase one common share at an amended price of $0.12 per share (reduced from $0.20) for a period of 18 months. Insiders of the Company have indicated that they may subscribe for up to $120,000 of this issue. The private placement is subject to regulatory approval.
The proceeds of this private placement will be used to advance the Company's gold and silver projects in Peru as well as for general working capital.
The Toronto stock exchange has neither approved nor disapproved of the
information herein.