Guardian Exploration Inc.

Guardian Exploration Inc.

May 17, 2011 18:22 ET

Guardian Exploration Announces $500,000 Flow Through Share Financing

CALGARY, ALBERTA--(Marketwire - May 17, 2011) - Guardian Exploration Inc. (TSX VENTURE:GX) ("Guardian" or the "Company") is pleased to announce the offering of up to 5,000,000 units of the Company at a purchase price of $0.10 per unit for gross proceeds of $500,000, each unit consisting of one common share of the Company to be issued on a "flow through" tax basis (each a "Flow Through Share") and one purchase warrant, each whole warrant exercisable into one Common Share upon payment of $0.15 per share for a period of 24 months from the date of issuance. The Company has agreed to pay a finders' fee to eligible persons in the aggregate amount of 7% of the proceeds of the Offering raised by such persons and 7% of the number of securities placed by such persons in finders warrants. Each finders warrant is exercisable into one Common Share upon payment of $0.10 per share for a period of one year from the date of issuance.

The securities issued in the Offering will be subject to a hold period of four months plus one day from closing. The Offering is subject to applicable regulatory and TSX Venture Exchange approval and completion of definitive documentation. Proceeds from the Offering will be used for exploration and development expenditures on "flow through" eligible Canadian projects.

Guardian is a Calgary-based corporation engaged in the acquisition, exploration and development of resource properties. Common shares of the company trade on the TSX Venture Exchange under the trading symbol "GX".

Investors are cautioned that this news release contains forward looking information. Such information is subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, as no assurances can be given as to future results, levels of activity or achievements.

This news release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

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.

Contact Information

  • Guardian Exploration Inc.
    Graydon Kowal
    President and CEO
    (403) 269-5870