Guinor Gold Corporation

Guinor Gold Corporation

March 15, 2005 17:05 ET

Guinor Gold Corporation-New Issue


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GUINOR GOLD CORPORATION

TSX SYMBOL: GNR

MARCH 15, 2005 - 17:05 ET

Guinor Gold Corporation-New Issue

TORONTO, ONTARIO--(CCNMatthews - March 15, 2005) - Not for distribution
to U.S. news wire services or for dissemination in the United States.

Guinor Gold Corporation ("Guinor") (TSX:GNR) has today entered into an
agreement with BMO Nesbitt Burns Inc., on behalf of a syndicate of
Underwriters, under which the Underwriters have agreed to buy 70,000,000
Special Warrants from Guinor and sell to the public at a price of $1.05
per Special Warrant, representing an aggregate amount of $73,500,000.
The Underwriters have been granted an option to purchase up to an
additional 17,500,000 Special Warrants at any time up to 48 hours prior
to closing. Closing is expected on or about April 5, 2005, and is
subject to approval by the TSX.

The securities offered have not been 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 an applicable exemption from
the registration requirements. This press release shall not constitute
an offer to sell or the solicitation of an offer to buy nor shall there
be any sale of the securities in any State in which such offer,
solicitation or sale would be unlawful.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Guinor Gold Corporation
    Trevor Schultz
    President and CEO
    ts@guinor.com
    or
    Guinor Gold Corporation
    John Barker
    VP Strategic Development
    jb@guinor.com
    or
    Marius Bretteville
    European IR
    +47-22 00 70 50
    ir-eur@guinor.com
    or
    Judy Webster
    North America IR
    1888 771 1453 OR +416-691 5996
    ir-nam@guinor.com