Ginguro Exploration Inc.
TSX VENTURE : GEG

Ginguro Exploration Inc.

August 20, 2013 09:01 ET

Ginguro Announces Non-brokered Private Placement Financing

SUDBURY, ONTARIO--(Marketwired - Aug. 20, 2013) -

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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 10,000,000 units ("Units") at a price of $0.10 per Unit, to raise aggregate gross proceeds of up to $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 $0.15 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 $0.15 per share, for a period of two years following the closing of the Offering.

The private placement remains subject to the approval of the TSX Venture Exchange. Completion of the sales is subject to the approval of the TSX Venture Exchange and the satisfaction of all closing conditions. Insiders of Ginguro may subscribe for up to 100% of the Units in the Offering.

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
    info@ginguro.com