Toronto, / ACCESSWIRE / May 21, 2014 / Golden Share Mining Corporation ("Golden Share" or the "Corporation" - TSXV:GSH) is pleased to announce the completion of a private placement for a total amount of $400,000 (the "Private Placement").
Under the Private Placement, the Corporation has issued a total of 4,444,444 non-flow through common shares ("Shares") at a price of $0.09 per Share and 2,222,222 Share purchase warrants ("Warrants"), each Warrant entitling its holder to purchase one non-flow through Share at a price of $0.15 per Share at any time during the 24-month period from the closing date.
Beijing Donia Resources Co. Ltd. ("Beijing Donia"), a Chinese state-controlled company and Golden Share's largest shareholder with approximately 26.30% of its issued and outstanding Shares, subscribed for the totality of the Private Placement or 4,444,444 Shares and 2,222,222 Warrants for $400,000 through its direct subsidiary Goldrock Resources Corporation Limited.
All Shares to be issued in connection with this private placement are subject to a 4-month minimum hold period. This private placement is subject to the approval of the TSX Venture Exchange.
Before the Private Placement, Beijing Donia held, directly or indirectly, 17,676,710 Shares and 2,722,222 Warrants, for an aggregate total of 20,398,932 securities, which represents approximately 29.17% of the issued and outstanding Shares on a partially-diluted basis (assuming the exercise of the Warrants held by Beijing Donia only). Further to this subscription, Beijing Donia holds, directly or indirectly, a total of 22,121,154 Shares and 4,944,444 Warrants, for an aggregate total of 27,065,598 securities, which represents approximately 35.34% of the issued and outstanding Shares on a partially-diluted basis (assuming the exercise of the warrants held by Beijing Donia only).
Beijing Donia holds its securities of Golden Share for investment purposes and may, in the future, acquire ownership and control over additional such securities, also for investment purposes.
About Golden Share
Golden Share Mining Corporation is a Canadian-based mining exploration company developing a promising and well-balanced property portfolio in the mineral belts of Eastern Canada, a politically stable environment with a history of rich mineral endowment.
On July 25, 2013 shareholders of the Company approved the merger with Silvore Fox Minerals Corp., a Canadian junior explorer listed on the TSX Venture Exchange (see press release dated July 25, 2013). Following this transaction Beijing Donia Resources Co. Ltd., a Chinese state-controlled company, has become Golden Share's largest shareholder with approximately 30.88% of its issued and outstanding Shares. Sinotech Minerals Exploration Co. Ltd., a leading Chinese mineral exploration and development company, is a 50.03% shareholder of Beijing Donia Resources Co. Ltd (For further details please see the recent Sinotech corporate presentation on: http://www.goldenshare.ca).
This new Chinese partner recognizes the value of Golden Share's well balanced portfolio of properties and sees the merged entity as an ideal platform to further develop its activities in mining exploration and development in North America, and notably in Eastern Canada, a politically stable environment with a rich history of mineral endowment.
Golden Share's exploration programs are executed under the supervision of Mrs. Laurence Huss, M.Sc., P. Geo., a << Qualified Person >> as defined in National Instrument 43-101, and Vice-president Exploration of Golden Share. Philippe Giaro, P.Geo., President and CEO of Golden Share and Qualified Person for Golden Share, has reviewed and approved the content of this release.
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Golden Share Mining Corporation
Philippe Giaro, President & CEO
Tel: 1-905-968-1153 or Tel: 32-473-52-30-29
E-mail: [email protected] or E-mail: [email protected]
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.
SOURCE: Golden Share Mining Corporation