VANCOUVER, Aug. 26 /CNW/ - Gitennes Exploration Inc. (TSX-GIT) announces that it has completed the private placement originally announced in its news releases of June 15, 2009 and July 28, 2009. The Company has issued an aggregate 4,358,264 units at a price of $0.07 per unit for gross proceeds of $305,080. Each unit consists of one common share and one half of a share purchase warrant. Each whole warrant entitles the holder to purchase one common share at a price of $0.12 per share for a period of 18 months. The securities issued pursuant to the placement are subject to a four month hold period, expiring December 26, 2009. Insiders of the Company subscribed for an aggregate of 1,728,572 units.
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.