Gee-Ten Ventures Inc.
TSX VENTURE : GTV

Gee-Ten Ventures Inc.

December 29, 2010 14:54 ET

Gee-Ten Ventures Announces Proposed Private Placement, Hiring of Investors Relations Firm and Results of its 2010 Annual Shareholders Meeting

MONTREAL, QUEBEC--(Marketwire - Dec. 29, 2010) - Gee-Ten Ventures Inc. ("Gee-Ten") (TSX VENTURE:GTV)

Private Placement

Gee-Ten is pleased to announce that it intends to complete a non-brokered private placement of a maximum of 10 million Units at a price of $0.40 per Unit, subject to the TSX Venture Exchange's (the "TSXV") approval. Each Unit will be comprised of one common share of Gee-Ten and one half of a share purchase warrant. Each full warrant will entitle the holder to acquire one common share of Gee-Ten at a price of $0.75 for a period of one year from the closing date. It is expected that insiders of the Company will participate in the private placement, although firm commitments have yet to be made. The proceeds of the private placement will be used to secure an interest in a mining property of merit. Gee-Ten has identified interesting targets, in conjunction with its largest shareholder, Cabia Goldhills Inc.

Investors Relations Firm

Gee-Ten further announces that it has retained the services of Paradox Public Relations Inc., to handle its investor's relations. Subject to the TSXV's approval, Paradox will be granted options to acquire 80,000 common shares of Gee-Ten at a price of $0.40 per share, with quarterly vesting over one year, and will be paid a monthly fee of $6,500 for the duration of the contract. The agreement with Paradox can be terminated on 30 days notice and contemplates that all of Paradox's activities must be in compliance with applicable rules and regulations, including policy 3.4 of the TSXV.

Paradox will focus on developing and expanding Gee-Ten's communications with the investment community through a comprehensive investor relations program. Paradox has been providing investor relations services in multiple industries for about eight years. Services to be provided to Gee-Ten include: marketing to the investment community, use of Paradox's proprietary database and contacts, organizing meetings and presentations on behalf of the company, and providing an e-mail service and incoming calls service. More information about Paradox can be obtained at www.Paradox-pr.ca.

Shareholders Meeting

Gee-Ten is also pleased to announce that at its shareholders meeting held on December 22, 2010, the following persons were elected to its board of directors: Steve Saviuk, Marc Labrecque, Pierre Barnard, Jean Rainville, Peter Bolt and Claude Dufresne. The appointments of Mr. Saviuk, Bolt and Dufresne remain subject to the approval of the TSXV.

Mr. Labrecque commented: "We welcome the addition of Mr. Bolt and Mr. Dufresne to the board of directors. They each have a very valuable experience in the mining industry and Mr. Bolt's deep knowledge of precious metals mining in Colombia should enable the Company to position itself in one of the most exciting area for mining.

Increase of Stock Option Plan

At the shareholders meeting, Gee-Ten's disinterested shareholders have also ratified the proposed increased the number of common shares reserved under its stock option plan from 400,000 to 1,000,000 in accordance with the rules of the TSXV. This measure remains subject to the final approval of the TSXV.

About Gee-Ten Ventures Inc.

Gee-Ten is a junior Canadian exploration company, quoted for trading on tier 2 of the TSXV under the symbol GTV. Gee-Ten has approximately 4,100,000 common shares issued and outstanding.

Reader Advisory

This Press Release contains certain forward-looking information and statements with the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "confident", "might", "proposed" and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the foregoing, this Press Release contains forward-looking information and statements pertaining to the completion of the private placement of securities and other expectations, beliefs, plans, goals, objectives, assumptions, information and statements about possible future events, conditions, results or performance. Gee-Ten's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so what benefits Gee-Ten will derive there from. Gee-Ten disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities laws.

The securities proposed to be issued have not been registered under the U.S. Securities Act of 1933 as amended or any state securities laws, and may not be offered or sold in the United States absent registration or an exemption from the registration requirements. This Press Release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Gee-Ten Ventures Inc.
    Mr. Marc Labrecque
    President
    819-856-3598