Garrison International Ltd.

Garrison International Ltd.

February 26, 2010 08:30 ET

Garrison Announces the Closing of the Debenture Financing

TORONTO, ONTARIO--(Marketwire - Feb. 26, 2010) -

Issuance of Debentures

Garrison International Ltd. (TSX VENTURE:GAU) ("Garrison") is pleased to announce that Garrison has closed a debenture financing for total gross proceeds of $3,000,000 ($2,808,000 net of financing commissions) (the "Financing"). A total of $1,327,251 was advanced to Garrison prior to December 31, 2009 on account of this financing. These sums were converted into debentures at the closing. The balance of the debentures was funded in February 2010. A debenture having a principal amount of $1,500,000 will mature on December 22, 2012, and the balance of the debentures will mature on February 22, 2013. Each debenture bears interest at a rate of 10% per annum, calculated and payable semi-annually on the last day of June and December commencing June 30, 2010 until full and complete re-payment of the debentures. Delano Capital Corp. ("Delano") acted as an agent for the Financing and received a commission equal to $192,000, which accounts to 8% on $2,400,000 of the gross proceeds raised.

The funds raised through this debenture financing will be used to facilitate Garrison's continued operations, including Garrison's plans to commence production at the Tovshiir Project.

About Garrison

Garrison is a junior mineral exploration company focused on acquiring and developing advanced stage gold properties in Mongolia. For complete details on Garrison International Ltd. and its partners, management encourages investors and interested parties to view its public documents filed on SEDAR at

For all Garrison International Ltd. investor relations needs, investors are asked to visit the Garrison International IR Hub at where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to where they can also request to be added to the investor e-mail list to receive all future press releases and updates in real time.


No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements in this news release, other than statements of historical fact, are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Garrison International Ltd. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Garrison International Ltd. assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.

Shares Outstanding – 97,738,057

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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