Garrison International Ltd.
TSX VENTURE : GAU

Garrison International Ltd.

September 19, 2011 08:58 ET

Garrison Closes Private Placement

TORONTO, ONTARIO--(Marketwire - Sept. 19, 2011) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES

Garrison International Ltd. (TSX VENTURE:GAU) ("Garrison" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement") through the issuance of 68,600,000 units (each, a "Unit") at a price of $0.05 per Unit for aggregate gross proceeds of $3,430,000, all as previously described in press releases dated June 3, 2011 and August 10, 2011.

Each Unit consists of one common share of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one further Common Share at a price of $0.10 per Share until September 16, 2013.

The proceeds of the Private Placement are planned to be used for exploration and development of the Company's projects, reduction of debt and for general working capital purposes. All securities issued in connection with the Private Placement are subject to a four-month statutory hold period. The Private Placement remains subject to approval of the TSX Venture Exchange.

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 www.sedar.com.

Forward-Looking Information

Certain information contained in this news release may be "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward looking information includes, but is not limited to, statements with respect to the Private Placement and proposed use of proceeds, the future financial or operating performance of the Company, and planned exploration programs at the Company's projects. Generally, forward looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". 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, including but not limited to: general business, economic, competitive, geopolitical and social uncertainties; the actual results of current exploration activities; acquisition risks; and other risks of the mining industry. 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. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. 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.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

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 release.

Contact Information