Golden Oasis Exploration Corp.

Golden Oasis Exploration Corp.

April 04, 2006 19:26 ET

Golden Oasis Exploration Corp.: $2.3 Million Private Placement Closes

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 4, 2006) - Golden Oasis Exploration Corp. (the "Company") (TSX VENTURE:GOT) is pleased to announce that it has closed its private placement previously announced on March 1st, 2006. The Company issued an aggregate of 5,150,000 Units, of which 4,830,000 Units were placed through Bolder Investment Partners, Ltd. (the "Agent") and its selling group, at a price of $0.45 per Unit. Each Unit is composed of one common share of the Company and one-half of one non-transferable common share purchase warrant (the "Warrant"). Each full Warrant is exercisable into one additional common share of the Company for a period of two years from the closing date of the Private Placement at an exercise price of $0.55. The Warrants include an early expiry feature which the Company may trigger should the common shares close above $0.80 for a minimum period of twenty (20) days on the TSX Venture Exchange. The common shares, and any shares issued pursuant to warrant exercises will be subject to a four-month hold period.

Pursuant to an Agency Agreement, the Company paid an aggregate of: (i) 8% commission on the gross proceeds raised by the Agent, paid as to $123,606 in cash, and the issuance of 111,720 Units at the deemed price of $0.45 per Unit; (ii) an aggregate of 966,000 Agent's warrants, each such Agent's warrant entitling the holder to acquire one common share at the exercise price of $0.55 for a period of two years; (iii) an administration fee of $2,500 plus GST; and (iv) the Agent's expenses. All securities issued to the Agent are subject to a four-month hold period.

In addition to general corporate purposes, the proceeds from the offering will be used to finance further exploration and development of the Company's principal property, the Toiyabe Property, in Lander County, Nevada, as well as other potential property acquisitions, in line with the Company's focus on exploration and development of precious and base metal properties in North America.

The Company also announces that it has granted options to purchase a total of 530,000 common shares to directors, officers, consultants and employees of the Company, pursuant to the Company's stock option plan. The options are exercisable at a price of $0.65 per share expiring April 4, 2011.

For details on the Company and its properties, see the prospectus of the Company dated February 9, 2006, available on SEDAR at


Robert Eadie, Chief Executive Officer and Director

The TSX Venture Exchange has not reviewed nor does it accept responsibility for the adequacy or accuracy of this press release.

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