VANCOUVER, March 19 /CNW/ - Gitennes Exploration Inc. (TSXV-GIT) announces that it intends to undertake a private placement financing of 7 million units at $0.07. Each unit consists of a common share and a share-purchase warrant that is exercisable at $0.12 within 12 months of issue. Common shares will be subject to normal re-sale restrictions for up to four months from the date of issue. Insiders of the Company may subscribe for up to 20% of the units.
Finder's fees may be payable on a portion of the financing to registered dealers who assist in the placement. The private placement is subject to regulatory approval.
Proceeds will be to pursue several new gold, silver and copper exploration projects in Latin America and Western Canada, and for general administrative purposes.
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.
SOURCE Gitennes Exploration Inc.
For further information: For further information: Jerry Blackwell, President, Suite 2390 - 1055 West Hastings Street, Box 60, Vancouver, B.C. V6E 2E9, Tel: (604) 682-7970, Fax: (604) 608-9014, email: firstname.lastname@example.org, website: www.gitennes.com