Golden Dawn Minerals Inc. Announces Increase to Non-Brokered Private Placement



    TSX-V: GOM

    VANCOUVER, Sept. 28 /CNW/ - Golden Dawn Minerals Inc. (TSX-V: GOM) (the
"Company") is pleased to announce that further to its news release of
September 11, 2007, it has amended the terms of its previously announced
non-brokered private placement to increase the size of the offering to
$967,610 through the sale of 1,531,250 flow-through units (the "FT Units") of
the Company at a price of $0.40 per FT Unit and 1,014,600 non-flow-through
units (the "NFT Units") of the Company at a price of $0.35 per NFT Unit,
subject to the approval of the TSX Venture Exchange.
    Each FT Unit will consist of one flow-through common share and one-half
of one non-flow-through common share purchase warrant. Each whole warrant will
entitle the holder to purchase one additional non-flow-through common share of
the Company for a period of two years at a price of $0.50 per share. A
restriction on the warrants provides that if the Company's shares trade on the
TSX Venture Exchange at a price of $0.65 per share or higher for 20
consecutive trading days (irrespective of whether the shares have traded on
any given day within such 20 day period), then the warrants must be exercised
within 30 calendar days of express written notice to the warrantholder or they
will be cancelled.
    Each NFT Unit will consist of one non-flow-through common share and one
non-flow-through common share purchase warrant. Each warrant will entitle the
holder to subscribe for one additional common share of the Company for a
period of two years at a price of $0.50 per share. A restriction on the
warrants provides that if the Company's shares trade on the TSX Venture
Exchange at a price of $0.65 per share or higher for 20 consecutive trading
days (irrespective of whether the shares have traded on any given day within
such 20 day period), then the warrants must be exercised within 30 calendar
days of express written notice to the warrantholder or they will be cancelled.
    Aberdeen Gould will act as lead finder with respect to this financing,
with MGI Securities Inc. acting as a co-lead finder. A 7% aggregate cash
finder's fee will be payable to the finders. In addition, the Company will
issue the finders compensation options equal to 10% of the total number of FT
Units and NFT Units sold. Each compensation option issued in connection with
the FT Units sold will be exercisable into one unit at a price of $0.40 per
unit for a period of two years, with each unit being comprised of one
non-flow-through share and one-half of one non-flow-through warrant. Each
whole warrant will entitle the holder to purchase one additional
non-flow-through common share of the Company for a period of two years at a
price of $0.50 per share. Each compensation option issued in connection with
the NFT Units sold will be exercisable into one unit at a price of $0.35 per
unit for a period of two years, with each unit being comprised of one
non-flow-through share and one non-flow-through warrant. Each warrant will
entitle the holder to purchase one additional non-flow-through common share of
the Company for a period of two years at a price of $0.50 per share. All
warrants the compensation options will carry a restriction that provides that
if the Company's shares trade on the TSX Venture Exchange at a price of $0.65
per share or higher for 20 consecutive trading days (irrespective of whether
the shares have traded on any given day within such 20 day period), then the
warrants must be exercised within 30 calendar days of express written notice
from the Company to the warrantholder or they will be cancelled.
    Proceeds received from the sale of the FT Units will be used for work on
the Company's properties and proceeds received from the sale of the NFT Units
will be used for general working capital.
    The above transaction is subject to regulatory approval.

    ON BEHALF OF THE BOARD OF DIRECTORS OF
    GOLDEN DAWN MINERALS INC.


    -------------------------
    David Dobson
    President & Director

    THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS. THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR
DISAPPROVES OF THIS PRESS RELEASE.




For further information:

For further information: GOLDEN DAWN MINERALS INC., 3929 WEST 30 AVENUE,
VANCOUVER, BC, V6S 1X2, Telephone: (604) 221-8936, Facsimile: (604) 221-8932

Organization Profile

Golden Dawn Minerals Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890