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Golden Band Resources Inc. (GBN: TSXV) reported today it has closed the second and final tranche of its private placement announced in its news releases dated April 27, 2009 and May 13, 2009. Pursuant to the private placement, for the final closing, the Company issued 12,285,000 Units at a price of $0.20 cents per unit for gross proceeds of $2,457,000. Each Unit comprises one common share of the Company and one half common share purchase warrant of the Company. Two warrants will entitle the holder to purchase one share of the Company for a period of 12 months from the date of issuance at a price of $0.28 per share. In total, with the two closings (see first closing news release of May 12, 2009), the Company issued 22,000,000 Units for gross proceeds of $4,400,000.
For the final tranche, finders' fees consisting of 462,000 Finders Warrants and $92,400 in cash were paid in accordance with the policies of the TSX Venture Exchange. The total finders' fees paid in this financing are $225,400 in cash and 1,127,000 Finders Warrants. Each Finder's Warrant will be exercisable to acquire one common share at $0.28, and expiring 12 months after the respective closing dates.
The securities offered hereby are subject to a four-month plus one-day hold period from the respective closing dates in accordance with applicable securities laws.
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On behalf of the Board of Directors of Golden Band Resources Inc.,
"Rodney G. Orr"
Rodney G. Orr, P.Geo.,
President & CEO
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All of Golden Band's exploration programs and pertinent disclosure of a scientific nature are prepared and/or designed and carried out under the supervision of Frank Hrdy, P.Geo., Golden Band's VP Exploration, who serves as the qualified person (QP) under the definitions of National Instrument 43-101. All of Golden Band's development-related programs and pertinent disclosure of a development nature are prepared and/or designed and carried out under the supervision of Gary Haywood, P.Eng., Golden Band's VP of Operations and COO, who serves as the qualified person (QP) under the definitions of National Instrument 43-101.
Cautionary Statements on Forward-Looking Information: The statements made in this News Release may contain certain forward-looking information. Actual results may differ materially from those currently anticipated in such statements. Certain risk factors may also materially affect the actual results achieved by the Company. Potential and current shareholders are cautioned not to place undue reliance on forward-looking information. The Company disclaims any intent and undertakes no obligation to update publicly or otherwise revise any forward-looking information whether as a result of new information, future events, or other such factors that may affect this information, except as required by law.
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Neither 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.
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%SEDAR: 00007862E
SOURCE: Golden Band Resources Inc.
Golden Band Resources Inc., Rodney Orr, President & CEO, Phone: (306) 955-0787 x7123, Fax: (306) 955-0788, Email: rodney.orr@goldenbandresources.com, www.goldenbandresources.com; Investor Relations: Raju Wani, Wani Capital Corp.: (403) 240-0555, Email: info@goldenbandresources.com
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