/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
VANCOUVER, June 12, 2012 /CNW/ - Guyana Frontier Mining Corp. ("Guyana
Frontier") is pleased to announce that it has completed the first
tranche (the "First Tranche") of a non-brokered private placement (the
"Private Placement"), initially announced in Guyana Frontier's news
release dated May 18, 2012. In the Private Placement, Guyana Frontier
will raise maximum aggregate gross proceeds of up to $1,000,000 through
the issuance of up to 16,666,667 units (each a "Unit") at a price of
$0.06 per Unit. Each Unit will be comprised of one common share of
Guyana Frontier and one common share purchase warrant (a "Warrant").
Each Warrant will be exercisable to acquire one additional common share
of Guyana Frontier at an exercise price of $0.10 per share, at any time
for a one year period following issuance.
The First Tranche, which closed on Friday June 8, 2012, consisted of the
issuance of an aggregate of 5,568,000 Units, raising gross proceeds of
$334,080. The proceeds of the Private Placement will be used for the
exploration of Guyana Frontier's mineral properties and for general
working capital purposes. All securities issued in the First Tranche
will be subject to a four-month hold period pursuant to applicable
securities laws, expiring on October 9, 2012.
In connection with the First Tranche, Guyana Frontier paid arm's length
finders aggregate cash finder's fees of $10,646 and issued such finders
an aggregate of 137,440 common share purchase warrants, having the same
attributes as the Warrants comprising the Units.
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The
offer and sale of the Units has not been and will not be registered
under the United States Securities Act of 1933, as amended (the "U.S.
Securities Act"), or any 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 (as defined in Regulation S under the U.S. Securities Act)
unless an exemption from such registration requirements is available.
Neither the 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.
FORWARD LOOKING STATEMENTS
This news release contains forward-looking statements that are based on
the Guyana Frontier''s current expectations and estimates.
Forward-looking statements are frequently characterized by words such
as "plan", "expect", "project", "intend", "believe", "anticipate",
"estimate", "suggest", "indicate" and other similar words or statements
that certain events or conditions "may" or "will" occur, and include,
without limitation, statements regarding the Guyana Frontier''s plans
with respect to the closing of further tranches of the Private
Placement and the total proceeds to be raised in the Private Placement.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that could cause actual events or
results to differ materially from estimated or anticipated events or
results implied or expressed in such forward-looking statements,
including the future state of the financial markets and other economic
factors. Any forward-looking statement speaks only as of the date on
which it is made and, except as may be required by applicable
securities laws, the Guyana Frontier disclaims any intent or obligation
to update any forward-looking statement, whether as a result of new
information, future events or results or otherwise. Forward-looking
statements are not guarantees of future performance and accordingly
undue reliance should not be put on such statements due to the inherent
SOURCE Guyana Frontier Mining Corp.
For further information:
about Guyana Frontier, please visit our website at www.guyanafrontier.com or contact Warren Stanyer, President and CEO, at (604) 558-0077