Ginguro Exploration Inc.

Ginguro Exploration Inc.

August 26, 2013 15:24 ET

Ginguro Announces Additional Non-Brokered Private Placement

SUDBURY, ONTARIO--(Marketwired - Aug. 26, 2013) -


Ginguro Exploration Inc. (TSX VENTURE:GEG) ("Ginguro") is pleased to announce that it proposes to complete a non-brokered private placement (the "Offering") pursuant to which it will issue up to 6,666,667 units ("Units") at a price of $0.15 per Unit, to raise aggregate gross proceeds of up to approximately $1,000,000. Each Unit will consist of one common share and one-half of one share purchase warrant of Ginguro, with each such whole share purchase warrant entitling the holder thereof to acquire one additional common share of Ginguro for a period of 24 months at an exercise price of $0.20 per share.

In connection with the Offering, Ginguro has agreed to pay a finder's fee to certain qualified registrants assisting in the Offering in the amount equal to 5% of the gross proceeds raised by such finders, and issue broker warrants to such finders entitling the holders to acquire such number of common shares of Ginguro as is equal to 5% of the aggregate number of Units sold by such finders in the Offering, at a price of $0.20 per share, for a period of two years following the closing of the Offering.

The Offering is in addition to the private placement of Ginguro previously announced on August 20, 2013 as amended August 21, 2013. The two offerings are anticipated to close concurrently.

The Offering remains subject to the approval of the TSX Venture Exchange. Completion of the Offering is subject to the approval of the TSX Venture Exchange and the satisfaction of all closing conditions.

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.

Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Ginguro, including, but not limited to the impact of general economic conditions, industry conditions, dependence upon regulatory approvals, the availability of financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Contact Information

  • Ginguro Exploration Inc.
    Richard Murphy
    President and CEO
    (705) 222-8800