🕐08.02.10 - 21:50 Uhr
Gold Canyon Completes Private Placement for $360,000
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Re: News Release - Monday, February 08, 2010
Gold Canyon Completes Private Placement for $360,000
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Gold Canyon Resources Inc.
(GCU: TSX-V) ("Gold Canyon" or "the
Company") is pleased to announce closing of its previously announced
private placement of common share units (the "Units") at a price per
Unit of $0.21 for gross proceeds to the Company of $360,000.
Each Unit
is comprised of one common share in the capital of the Company and one
non-transferable share purchase warrant of the Company, exercisable at
any time up to 4:30 p.m.
(Vancouver time) on February 8, 2012 for one
common share at a price of $0.35 per share.
Any securities to be issued will be subject to a hold period of four
months expiring on June 9, 2010 in accordance with the rules and
policies of the TSX Venture Exchange and applicable Canadian securities
laws and such other further restrictions as may apply under foreign
securities laws.
The proceeds will be used for additional work on Gold Canyons
Springpole Gold Project, Rare Earth Element projects and general
corporate purposes.
About Gold Canyon Resources Inc.:
Gold Canyon is engaged in the acquisition and exploration of mineral
and precious metals properties.
The Company controls a 100% interest in
the Springpole Gold - Horseshoe Island Gold, Platinum, Palladium
Project and Favourable Lake Poly-metallic property currently under
option to Shoreham Resources Inc.
pursuant to an option and joint
venture agreement entered into in December 2005 - all in the Red Lake
Mining District of Ontario, Canada.
Through its wholly owned U.S.
subsidiary, Gold Canyon Resources USA
Inc., the Company controls a 100% interest in the Cordero Gallium
Project situated in Humboldt County, Nevada, U.S.A.
Gold Canyon entered into a Joint Exploration Agreement with the Japan
Oil, Gas and Metals National Corporation (JOGMEC) in January 2009.
Additional information can be found on the Companys website:
www.goldcanyon.ca
Akiko Levinson,
President & Director
For further information, please contact:
Tel: (604) 682-3234 | Toll free: 1 (888) 242-3234 | Fax: (604) 682-0537
Certain statements contained in this news release using the terms
"may", "expects to", "project", "estimate", "plans", and other terms
denoting future possibilities, are forward-looking statements in
respect to various issues including upcoming events based upon current
expectations which involve risks and uncertainties that could cause
actual outcomes and results to differ materially.
The future conduct of
the Companys business and the feasibility of its mineral exploration
properties are dependent upon a number of factors and there can be no
assurance that the Company will be able to conduct its operations as
contemplated and the accuracy of these statements cannot be guaranteed
as they are subject to a variety of risks that are beyond our ability
to predict or control and which may cause actual results to differ
materially from the projections or estimates contained herein.
The
risks include, but are not limited to, the risks described in the above
press release; those risks set out in the companys disclosure
documents and its annual, quarterly and current reports; the fact that
exploration activities seldom result in the discovery of a commercially
viable mineral resource and are also significant amounts of capital to
undertake and the other risks associated with start-up mineral
exploration operations with insufficient liquidity, and no historical
profitability.
The Company disclaims any obligation to revise any
forward looking statements as a result of information received after
the fact or regarding future events.
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 news release.
Associated File:
http://www.goldcanyon.ca/i/pdf/gcu-news-2010-0208-1.pdf
17 KB in size, approx.
4 seconds to download at 56.6Kbps
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Copyright (c) 2010 GOLD CANYON RESOURCES INC.
(GCU) All rights
reserved.
For more information visit our website at
http://www.goldcanyon.ca/ or send mailto:
Message sent on Mon Feb 8, 2010 at 11:53:48 AM Pacific Time
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