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TORONTO, Sept. 13, 2012 /CNW/ - Guyana Precious Metals Inc. (TSX-V:GPM) (the "Company" or "GPM") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Offering") pursuant to which it has issued an aggregate of 4,666,668 Common Shares("Shares") at a price of $0.075 per Share, to raise aggregate gross proceeds of approximately $350,000.
All of the securities issued in connection with the Offering are subject to a statutory hold period expiring on January 14, 2013. The Offering remains subject to the final approval of the TSX Venture Exchange.
GPM is led by an experienced management team with demonstrable project generation and development talents in Guyana. The Company is presently expanding the exploration and development of its Aremu and Peters Mine Properties; 2 of the 4 historical past gold producers in Guyana. GPM maintains an interest in acquiring additional key exploration and development properties in the country of Guyana.
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.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the impact of general economic conditions, industry conditions, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
SOURCE: Guyana Precious Metals Inc.
For further information:
Guyana Precious Metals Inc.
141 Adelaide Street West
Toronto, Ontario M5H 3L5
Attn: John Patrick Sheridan
Tel: (416) 628 5936
Fax: (416) 628 5935