Guide Exploration Ltd.
TSX : GO

Guide Exploration Ltd.

November 24, 2011 08:36 ET

Guide Exploration Ltd. Announces Completion of Brokered Flow-Through Share Financing

CALGARY, ALBERTA--(Marketwire - Nov. 24, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

Guide Exploration Ltd. (TSX:GO) ("Guide" or the "Corporation") is pleased to announce that it has closed its previously announced public offering of 5,634,000 Class A common shares which were issued on a Canadian Exploration Expense ("CEE") flow through basis pursuant to the Income Tax Act (Canada) ("CEE Flow-Through Common Shares") at a price of $3.55 per CEE Flow-Through Common Share for aggregate gross proceeds of $20,000,700 (the "Offering").

The Offering was underwritten by a syndicate of underwriters co-led by National Bank Financial Inc. and Cormark Securities Inc. and including FirstEnergy Capital Corp., Peters & Co. Limited and Scotia Capital Inc.

The net proceeds of the Offering will be used to incur eligible CEE on the Corporation's properties. These qualifying expenditures will be renounced in favour of subscribers for the 2011 tax year.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

ADVISORY: This press release contains forward looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Offering and the renunciation of certain expenses to subscribers under the Offering. Although Guide believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because Guide can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward looking statements contained in this press release are made as of the date hereof and Guide undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Contact Information

  • Guide Exploration Ltd.
    Jennifer Livingston
    Manager, Investor Relations
    (403) 261-6012

    Guide Exploration Ltd.
    William Andrew
    Chair and Chief Executive Officer
    (403) 261-6012

    Guide Exploration Ltd.
    Dale Miller
    President
    (403) 261-6012

    Guide Exploration Ltd.
    Shivon Crabtree
    Vice President and Chief Financial Officer
    (403) 261-6012
    www.guidex.ca