Golden Dynasty Resources Ltd.

Golden Dynasty Resources Ltd.

May 05, 2008 09:57 ET

Golden Dynasty Resources Ltd.: Hidrocarburos Del Cantabrico S.L. Acquisition Agreement Extension to June 30, 2008

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 5, 2008) - Golden Dynasty Resources Limited (TSX VENTURE:GLY) and Energy (CG) Ltd. have agreed to extend the Acquisition Agreement closing date to June 30, 2008 or five business days following receipt of all required Approvals for the transactions.

The amended agreement requires Golden Dynasty Resources to complete a financing sufficient to acquire a majority participation interest in Columbus Oil & Gas and sufficient operational financing as may be required by the TSX Venture Exchange to fund the operations of the purchaser. The financing must be completed on or before May 30, 2008.

The terms of the original agreement are contained in the Golden Dynasty news release of February 20, 2008

Golden Dynasty is in financing negotiations with two groups and will issue a news release as soon as the negotiations are concluded.

The Agreement is subject to the acceptance for filing with the TSX Venture Exchange.

The TSX Venture Exchange has neither approved not disapproved the contents of this news release.

Contact Information

  • Golden Dynasty Resources Limited
    Douglas W. Scheving
    Director and Corporate Secretary
    (604) 684-7619
    (604) 684 7346 (FAX)