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Guyana Goldfields Confirms Exercise of Warrants by IFC
Published : April 04, 2011
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Keywords :   Debt | Gold | Market | Sulphur | Volatility |

TORONTO, April 4 /CNW/ - Guyana Goldfields Inc. (News - Market indicators) ("GGI" or the Company") confirms that IFC, the member of the World Bank Group focused on private sector investments in developing countries, has completed the exercise of all 1,730,000 warrants to acquire 1,730,000 common shares of the Company for a total subscription cost of $7,612,000. These warrants were acquired by the IFC in March 2006 in connection with a private placement (see press release dated March 9, 2006).

Guyana Goldfields now has approximately $59 million in cash and short-term bank guaranteed investment certificates, no remaining warrants, and no debt. There are currently 83 million shares issued and outstanding.

The IFC currently holds approximately 6.3% of the outstanding common shares of the Company and has been a shareholder since 2006.

Claude Lemasson, President and COO, commented, "We appreciate the support that the IFC is providing as a significant shareholder in the Company which demonstrates their continued commitment to our exploration and development programs. The funds received from this warrant exercise will enable the Company to continue aggressively proceeding with exploration drill programs at both Aurora and Aranka, while maintaining a solid balance sheet with minimal share dilution".

About the IFC

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. IFC creates opportunity for people to escape poverty and improve their lives. IFC does so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, IFC's new investments climbed to a record $18 billion in fiscal 2010. For more information, visit www.ifc.org.

About Guyana Goldfields Inc.

Guyana Goldfields Inc. is a Canadian based mineral exploration Company primarily focused on the exploration and development of gold deposits in Guyana, South America where the Company has operated since 1996.  The Company is currently undertaking drilling and studies to advance and develop the Aurora Gold Project in Guyana with a current total resource of 6.7 million ounces gold (5.34 million oz Measured & Indicated; 1.33 million oz Inferred). An updated resource estimate will be released in August 2011 followed by a Feasibility Study in the fourth quarter of 2011.

At the Aranka Properties, currently in advanced staged exploration, drilling of highly prospective targets is ongoing. The Company discovered a gold deposit at Sulphur Rose containing an initial inferred resource of 460,400 oz and plans to release an updated resource estimate in August 2011.

Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Guyana, including, but not limited to the impact of general economic conditions, industry conditions, volatility of commodity prices, risks associated with the uncertainty of resource and reserve estimates, currency fluctuations, dependence upon regulatory approvals, the availability of future financing and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

For further information:

Guyana Goldfields Inc., 
Claude Lemasson,
President & COO,
Jacqueline Wagenaar,
Vice President, Corporate Communications
Tel: (416) 628-5936 Ext. 2295,
Fax: (416) 628-5935,
E-mail: jwagenaar@guygold.com,
Website: www.guygold.com

Guyana goldfields Inc.

DEVELOPMENT STAGE
CODE : GUY.TO
ISIN : CA4035301080
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Guyana Goldfields is a gold exploration company based in Canada.

Guyana Goldfields holds various exploration projects in Canada and in Guyana.

Its main asset in development is AURORA in Guyana and its main exploration properties are LANGIS, KUGLUKTUK (FORMERLY COPPERMINE), ABITIBI BELT and COPPERMINE RIVER (CORONATION GULF) in Canada and PETER'S MINE, AREMU, ARANKA, POMEROON HEAD / FISH CREEK, OKO and SULPHUR ROSE in Guyana.

Guyana Goldfields is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 314.9 millions as of today (US$ 239.5 millions, € 202.4 millions).

Its stock quote reached its highest recent level on March 18, 2011 at CA$ 9.99, and its lowest recent point on March 20, 2020 at CA$ 0.25.

Guyana Goldfields has 171 150 000 shares outstanding.

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Financings of Guyana goldfields Inc.
3/12/2013closes private placement financing with IFC
4/4/2011Confirms Exercise of Warrants by IFC
5/20/2009announces private placement increase
5/15/2009Announces $12,050,000 Non-brokered Private Placement
Nominations of Guyana goldfields Inc.
12/23/2013Announces Changes to its Board of Directors
6/3/2013Continues to Strengthen Management and Hires New President A...
5/21/2013Strengthens Its Senior Management Team and Announces New Chi...
9/10/2012Announces Mr. Marcel F. DeGuire as President & Chief Ope...
6/7/2012Appoints Mr. Scott A. Caldwell To The Board of Directors
4/5/2010Appoints Mr. Paul Murphy as Executive VP, Finance and CFO
2/11/2010Appoints Vice President, Exploration and Provides Update
Project news of Guyana goldfields Inc.
9/16/2015Canadian company opens large-scale gold mine in Guyana
12/12/2014(Aurora)Inc: SAG Mill Arrives At Aurora Gold Project
6/9/2014(Aurora)Aurora Gold Project Fully Funded; Guyana Goldfields Secures ...
5/21/2014Australian company to open gold mine in Guyana
12/9/2013(Aurora)Approves US$238M Aurora Gold Project Spend; Selects EPC Cont...
10/17/2013(Aurora)Orders Long Lead Time Equipment and Provides Aurora Gold Pro...
9/9/2011(Aurora)Provides an Update on the Aurora Feasibility Study and Deep ...
5/6/2011(Aurora)Completes Successful Analyst Site Visit to the Aurora Gold P...
4/27/2011(Aurora)Agrees To Divest Non-Core Assets and Focuses on Immediate ...
2/28/2011(Aurora)Significantly Increases Mineral Resources and Grade at the ...
1/27/2011(Sulphur Rose)Announces Initial Metallurgical Testing for Sulphur Rose Ret...
8/24/2010(Aurora)announces new additions to the Aurora gold project team
8/4/2010(Aurora)Hires Key Members of the Project Team to Advance the Feasibi...
6/21/2010extends high grade gold zones at Sulphur Rose
4/6/2010(Aranka)Intercepts More Significant High Grades at Sulphur Rose
3/15/2010(Aurora)Hires Key Members Of The Project Team
3/4/2010(Aranka)Announces New Discovery At Aranka
10/20/2009(Aranka)Property Acquisition and Drilling of New Target Areas at Ara...
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12/8/2008(Aurora)Announces Increased Resource at Aurora 3.69 Million Ounces M...
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8/1/2017Reports Second Quarter 2017 Results and Maintains Production...
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5/9/2016Guyana Goldfields Inc. Announces Results of Shareholders’ Me...
1/14/2016Guyana Goldfields Inc. Updates Mineral Reserves at US$1,000/...
1/5/2016Guyana Goldfields Inc. Produces 35,901 Ounces of Gold in 201...
10/29/2015Guyana Goldfields Inc. Announces First Gold Sale at Its Auro...
10/23/2015Canada's Guyana Goldfields says notified of possible Venezue...
10/23/2015Guyana Goldfields Inc. Comments on Venezuela Border Dispute
10/5/2015Guyana Goldfields Inc. Announces Scheduled Departure of Chie...
9/21/2015Guyana Goldfields Inc. Announces Aurora Gold Mine is Mechani...
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12/12/2014Guyana Goldfields Inc: SAG Mill Arrives At Aurora Gold Proje...
12/5/2014Guyana Goldfields Inc. Receives Outstanding Achievement Awar...
12/5/2014Receives Outstanding Achievement Award
10/20/2014Achieves Financial Close and First Drawdown of the US$185 Mi...
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9/3/2014Guyana Goldfields Completes US$185 Million Project Finance F...
8/12/2014Guyana Goldfields Announces Change in Financial Year-End
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6/27/2014Announces Closing of Private Placement to Raise $44.4 Millio...
6/27/2014Guyana Goldfields Announces Closing of Private Placement to ...
6/13/2014S&P Dow Jones Indices Announces Changes to the S&P/TSX Canad...
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4/28/2014announces results of Annual Shareholders' Meeting
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12/16/2013on BNN Tomorrow!
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4/26/2013announces results of shareholders' meeting
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10/14/2011BNN Interview Link
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10/5/2011Signs Memorandum of Understanding for the Mineral Agreem...
5/2/2011(Sulphur Rose)Confirms and Extends to Depth Gold Mineralization at Sul...
4/13/2011ANNOUNCES CORPORATE GOVERNANCE UPDATE
3/7/2011Archer Petroleum Closes Purchase and Sale Agreement on Matag...
7/29/2010ANNOUNCES ACCELERATION OF WARRANT EXPIRY DATE
3/19/2010to be Included in S&P/TSX Global Mining Index and Global Gol...
2/18/2010Announces Exercise of Over-Allotment Option
1/25/2010Announces Closing of $69,500,000 Offering
1/15/2010Announces Signing of Underwriting Agreement and Pricing of O...
1/11/2010Announces Filing of Short Form Preliminary Prospectus
10/19/2009Initial Coverage by J.Taylor's Energy, Gold & Tech Stocks
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8/21/2009Normal Course Issuer Bid
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6/10/2009Announces Closing of Second Tranche of Offering
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