GPJ Updates Status of $326.25 million Financing and Acquisition from Goldcorp of Amapari and Peak Mines



    /NOT FOR DISTRIBUTION TO A US NEWSWIRE SERVICE OR FOR DISSEMINATION IN
    THE UNITED STATES/

    Trading Symbol (TSXV): GPJ.H

    VANCOUVER, March 22 /CNW/ - Further to the Company's news releases of
February 19 and 26, 2007, the Company advises that it anticipates that the
C$326.25 million financing will close on March 28, 2007. The proceeds of the
financing will be placed into escrow at closing and will be released to the
Company upon completion of its purchase of the Amapari Mine in Brazil. The
closing of the acquisition of the Amapari Mine is expected to take place on
March 30, 2007 and the Company's shares will trade immediately thereafter
under the name "Peak Gold Ltd". Consideration for acquisition of the Amapari
Mine will consist of 155,000,000 shares of the Company. Under its agreement
with Goldcorp US$200 million of the proceeds of the financing will be used for
the acquisition of the Peak Mine, subject to receipt of approval by the
Australian Foreign Investment Review Board. An application has been made and
approval is expected to be received within 45 days. If the Peak Mine
acquisition does not close, the funds will be used to fund other potential
acquisitions, to further develop the Amapari Mine, and for general corporate
purposes. The foregoing transactions remain subject to TSX Venture Exchange
approval.

    The TSX Venture Exchange has in no way passed upon the merits of the
    proposed transaction and has neither approved nor disapproved the
    contents of this press release.

    The TSX Venture Exchange has not reviewed, and does not accept
    responsibility for the adequacy or accuracy of the content of this news
    release.





For further information:

For further information: Mr. Gordon Keep at (604) 609-6110 or email
gkeep@endeavourfinancial.com.

Organization Profile

GPJ VENTURES LTD.

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