Golden Chalice Resources Inc. (TSX-V: GCR) is pleased to announce that it has arranged a private placement of up to 1,000,000 flow-through or non-flow-through units at $0.11 per unit, for total proceeds of $110,000. 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. 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.
The Company also announces that it has closed the fourth and final tranche of its previously announced private placement, first announced on November 20, 2008. The fourth and final closing consisted of 1,530,000 units at a price of $0.10 per Unit for aggregate proceeds of $153,000. Each unit consisted of one flow through common share or non-flow through common share and one non flow through non transferable share purchase warrant. Each warrant entitled the holder to acquire one additional common share of the Company for a period of two years from the date of closing at a price of $0.15. The securities issued under the private placement are subject to a four month hold period. The Company has paid finder’s fees of $6,240 in connection with the final tranche of this private placement. The Company intends to use the proceeds of the offering for exploration on the Company’s Ontario properties and for general working capital.
The Company also announces the appointment of Diana Mark as Assistant Corporate Secretary.
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...
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