Golden Alliance to Raise $2,775,000 through a Non Brokered Private Placement
Golden Alliance Resources Corp. (GLL - TSX.V) ("Golden Alliance" or the "Company") is pleased to announce a non-brokered private placement financing of 3,700,000 units at a price of $0.75 per unit, subject to regulatory approval. Each unit will be comprised of one common share and one-half of one non-transferable warrant. One whole warrant will entitle the holder, on exercise, to purchase one additional common share of the Company at a purchase price of $0.90 per warrant share for eighteen 18 months from the date of issue of the warrant.
The proceeds will be used to advance exploration on projects in Peru and for general working capital. This financing is subject to regulatory approval and the placement securities will be issued subject to a minimum four-month hold period. Directors, officers and employees of the Company may participate in a portion of the financing. A finder's fee may be payable on part of the financing.
The terms of this Private Placement replace the terms of the non-brokered private placement previously announced by the Company on June 14, 2010.
The securities being offered have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
ON BEHALF OF THE BOARD
"Joseph Grosso"
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Mr. Joseph Grosso, President & C.E.O.
For further information please contact Joseph Grosso, President & CEO, or Corporate Communications at 1-800-901-0058.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
2010