Golden Sunset Trail Inc.
TSX VENTURE : GST

October 23, 2009 16:53 ET

Golden Sunset Trail Inc. Announces Private Placement

GRIMSBY, ONTARIO--(Marketwire - Oct. 23, 2009) - GOLDEN SUNSET TRAIL INC. ("Golden Sunset" or the "Corporation") (TSX VENTURE:GST) is pleased to announce it intends to complete a non-brokered private placement of up to $200,000 worth of convertible debentures of the Corporation (each a "Debenture") having an interest rate of 12% per annum, payable annually. The principal amount of each Debenture will be convertible into one common share of the Corporation (each a "Share") at a conversion rate of $0.10 per Share. The completion of the private placement is subject to TSX Venture Exchange Inc. approval and other regulatory approval.

Proceeds of the private placement will be used for general working capital.

This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein may be forward-looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budgets", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects the Company's current beliefs and is based on information currently available to the Company and on assumptions the Company believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of the Company and its projects; general business, economic, competitive, political and social uncertainties; commodity prices; the actual results of current exploration and development or operational activities; competition; changes in project parameters as plans continue to be refined; accidents and other risks inherent in the mining industry; lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting the Company; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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.

Contact Information

  • Golden Sunset Trail Inc.
    Daniel Donn
    President & CEO and Director
    (905) 945-3999
    danieldonn@cogeco.ca