/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, Feb. 28, 2012 /CNW/ - Golden Predator Corp. (TSX:GPD) (the "Company") is pleased to announce that it entered into an
agreement with a Casimir Capital Ltd. (the "Agent") to sell up to
17,441,860 flow-through common shares of the Company (within the
meaning of the Income Tax Act (Canada)) (the "Flow-Through Shares") at a price of $0.86 per
Flow-Through Share, and up to 2,666,667 common shares of the Company
(the "Common Shares") at a price of $0.75 per Common Share, for
aggregate gross proceeds to the Company of up to $17,000,000.
The gross proceeds from the sale of the Flow-Through Shares will be used
for exploration and development of the Company's Brewery Creek Project
and other Canadian mineral properties, and the net proceeds from the
sale of the Common Shares will be used for general corporate purposes.
The Company will renounce Canadian Exploration Expenses in relation to
the Flow-Through Shares with an effective date of no later than
December 31, 2012.
As consideration to the Agent, the Company has agreed to pay a
commission of 5.5% of the gross proceeds of the sale of the
Flow-Through Shares and Common Shares.
All securities issued in connection with the private placement will be
subject to a minimum four month hold period. The private placement is
subject to all required approvals, including the approval of the
Toronto Stock Exchange. The offering expected to close on or about
March 19th, 2012.
About Golden Predator Corp.
Golden Predator Corp., Yukon's Gold Company, is mandated to become a mid-tier gold producer. Golden Predator's
road-accessible advanced properties include its flagship Brewery Creek
Project at which the Company is moving aggressively to a near term
production decision, as well as its Grew Creek and Clear Creek
Golden Predator has the largest controlled land position in the Yukon,
with exploration holdings in excess of 1,400,000 acres (over 5,700 km2), and is committed to strong relationships with Yukon First Nations and
communities. Golden Predator's management and technical teams continue
to lead aggressive exploration programs in the underexplored regions of
the Yukon, and are driven to bring value to shareholders and leave a
No stock exchange, securities commission or other regulatory authority
has approved or disapproved the information contained herein. This
press release contains projections and forward-looking information that
involve various risks and uncertainties regarding future events. Such
forward-looking information can include without limitation statements
based on current expectations involving a number of risks and
uncertainties and are not guarantees of future performance. There are
numerous risks and uncertainties that could cause actual results and
Golden Predator's plans and objectives to differ materially from those
expressed in the forward-looking information. Actual results and future
events could differ materially from those anticipated in such
information. These and all subsequent written and oral forward-looking
information are based on estimates and opinions of management on the
dates they are made and are expressly qualified in their entirety by
this notice. Except as required by law, Golden Predator assumes no
obligation to update forward-looking information should circumstances
or management's estimates or opinions change.
This news release does not constitute an offer to sell or a solicitation
of an offer to sell any of the securities in the United States. The
securities referred to herein have not been and will not be registered
under the United States Securities Act of 1933, as amended or any state
securities laws and may not be offered or sold within the United States
or to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration
SOURCE Golden Predator Corp.
For further information:
Golden Predator Corp.
William M. Sheriff, Chairman & Chief Executive Officer
(604) 648-GOLD (4653)