Golden Chalice Resources Inc. (TSX-V: GCR) is pleased to announce that it has arranged a private placement of up to 9,375,000 flow-through or non-flow-through units. Each unit will consist of either one flow through or one non-flow through common share and one non-flow through, non-transferable share purchase warrant entitling the holder to purchase one additional common share for a period of two years at a price of $0.15. The units will be priced at $0.08 per unit. In accordance with Exchange policies, finders’ fees may be paid on a portion of the funds raised. The private placement is subject to regulatory approval.
The proceeds of the private placement will be used for exploration on the Company’s Ontario properties and for general working capital.
About Golden Chalice
The Company’s flagship project continues to be the road-accessible Langmuir Property, about 35 kilometers southeast of the Timmins mining camp, Ontario. Ongoing exploration is focused on further testing a nickel discovery where drilling in early 2007 intersected 72.5 meters grading 1.14%, capturing broad industry attention.
Golden Chalice is well positioned to discover and capitalize on world class gold, silver, copper, nickel, zinc, platinum and palladium deposits.
CONTACT INFORMATION
Corporate Inquiries:
Alan Campbell or Kevin Hull, Investor Relations
Phone: (604) 685-2222
Email: info@goldenchaliceresources.com
Website: www.goldenchaliceresources.com
AGORACOM Investor Relations:
Email: GCR@agoracom.com
Website: http://www.agoracom.com/ir/goldencha...
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
