MONTREAL, March 21 /CNW Telbec/ - Golden Goose Resources Inc. (the "Company") (TSX- Venture: GGR) announces that it is seeking to complete two private placements: (i) one placement of Units at a price of $0.70 per Unit, each Unit consisting of one Common Share and one half of a warrant to purchase a Common Share, for proceeds of up to $2 million (the "Unit Placement") and (ii) one placement of Flow-Through Common Shares at a price of $0.75 per Share, for proceeds of up to $1.1 million (the "Flow-Through Placement"). Each full warrant granted pursuant to the Unit Placement will entitle the holder to purchase one Common Share at a price of $0.95 per share and will expire 12 months after its issue. The placements are subject to regulatory approval.
The Company will use the proceeds of the Flow-Through Placement to fund the drilling program at the Company's 100% owned Magino property and fund the drilling program on its 100% owned Lac Levac property. The Magino property is located next door to the Richmond/Patricia's "island gold" project located 50 kilometers Northeast of Wawa, Ontario. The Company will use the proceeds of the Unit Placement for general corporate purposes.
Golden Goose Resources Inc. is a Canadian public company listed on the TSX Venture Exchange under the symbol GGR. The Company is principally engaged in mineral exploration and acquisition and has a portfolio of gold, platinum group metals, and nickel properties in Ontario and Quebec.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.