/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, April 5 /CNW/ - Golden Predator Royalty & Development Corp. (TSX:GPD) ("Golden Predator" or the "Company") is pleased to announce that it has entered into an agreement with a syndicate of Agents led by Canaccord Financial Ltd. and including PI Financial Corp. (collectively, the "Agents") to sell up to 8,350,000 flow-through shares of the Company (the "Flow-Through Shares") at a price of CDN$0.60 to raise CDN$5,010,000, on a commercially reasonable efforts private placement basis (the "Offering"). The Company has granted the Agents an over-allotment option, exercisable prior to the closing of the Offering, to sell up to 1,700,000 additional Flow-Through Shares at the issue price of the Offering, for additional proceeds of up to CDN$1,020,000.
The Agents will receive a cash commission on the sale of the Flow-Through Shares, representing 7% of the gross proceeds raised, and brokers warrants ("Broker Warrants") equal to 7% of the Offering. Each Broker Warrant shall be exercisable for one common share of the Company at a price of CDN$0.60 at any time up to 24 months after closing.
The Company intends to use the net proceeds of the Offering to conduct exploration on the Company's projects located in the Yukon's Tintina gold belt.
Closing of the Offering is anticipated to occur on or before April 20th, 2010 and is subject to receipt of applicable regulatory approvals including approval of the Toronto Stock Exchange.
The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.
About Golden Predator Royalty & Development Corp.
Golden Predator's corporate mandate is to establish a self-funded precious metals exploration company.
The Company is focused on exploring for and developing world class gold deposits in the Yukon's Tintina Gold Belt, where the Company is aggressively exploring its Eureka, Gold (Scheelite) Dome, Antimony Mountain, Clear Creek and the Brewery Creek projects.
The Company is advancing its Adelaide project in Nevada with underground drilling and bulk sampling planned. In addition, further drilling is planned at Golden Ridge, and Lantern to potentially provide near term production of small-tonnage high grade ores. The Company intends, through its strategic use of modular mills at its Taylor and Humboldt mill sites, to become a gold producer capable of funding its Yukon program. In addition, the Company currently receives in excess of $1.0 M per year from its royalty stream.
Golden Predator Royalty & Development Corp.
William Sheriff, Chairman and Chief Executive Officer
This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding future plans and objectives of the Company are forward-looking statements that involve various certain risks and uncertainties. In certain cases, forward-looking statements can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's plans or expectations include availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals, risks inherent in the mineral exploration and production industry, and other risks detailed herein and in the preliminary prospectus and from time to time in the filings made by the Company with securities regulators, most of which filings are available at www.sedar.com. The Company disclaims any intention or obligation to revise or update such statements, whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
SOURCE Americas Bullion Royalty Corp.
For further information: For further information: on Golden Predator Royalty & Development Corp., please visit the company's website: www.goldenpredator.com or contact Sarah Jones at (604) 648-GOLD