Ginguro Exploration Inc.

Ginguro Exploration Inc.

September 04, 2007 15:41 ET

Ginguro Exploration Inc. Completes Initial Public Offering

SUDBURY, ONTARIO--(Marketwire - Sept. 4, 2007) - Ginguro Exploration Inc. ("Ginguro" or the "Company") is pleased to announce that it has completed an initial public offering of 3,053,000 units at a price of $0.50 per unit and 1,960,000 flow-through shares at a price of $0.60 per share, raising gross proceeds of $2.7 million. Each unit consisted of one common share and one-half of one common share purchase warrant exercisable for a period of 18 months from closing at a price of $0.75 per share. Haywood Securities Inc. acted as agent in connection with the offering. It is anticipated that the common shares will be listed and posted for trading on the TSX Venture Exchange under the stock symbol "GEG" at the opening of trading on Wednesday, September 5, 2007.

The net proceeds from Ginguro's initial public offering will primarily be used to conduct exploration work on the Company's Ontario properties, to fund general and administrative expenses and for general working capital.

Following completion of the initial public offering, Ginguro has 13,276,142 common shares issued and outstanding.

About Ginguro

Ginguro is a mineral exploration company focused on the acquisition, exploration and development of mineral properties in Canada and South America. The Company holds interests in three properties in Ontario, and is also pursuing opportunities in Chile and Brazil. Ginguro's focus is on the acquisition of quality properties that lend themselves to the development of highly prospective regional exploration plays. Additional information about the Company can be found in Ginguro's final prospectus dated August 21, 2007 which has been filed and is available on SEDAR at www.sedar.com.

Forward-looking Statements

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume any obligation to update any forward-looking statements, save and except as may be required by applicable securities laws.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Ginguro Exploration Inc.
    Michael J. Byron, Ph.D., P.Geo.
    President and CEO
    (705) 560-2382
    Email: info@ginguro.com