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Golden Reign Resources Ltd

Published : December 30th, 2016

December 30, 2016: Golden Reign Announces Increase To Private Placement Offering and Closing of First Tranche

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December 30, 2016: Golden Reign Announces Increase To Private Placement Offering and Closing of First Tranche

Golden Reign Resources Ltd. (TSX-V: GRR) (the 'Company' or 'Golden Reign') is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement (the 'Offering') consisting of 7,181,575 common shares at a price of $0.22 per share to raise gross proceeds of $1,579,946. In connection with the first tranche of the Offering, the Company has agreed to pay finder's fees of $51,001 cash and 154,483 warrants priced at $0.22 per share exercisable for a period of eighteen (18) months. The common shares issued pursuant to this private placement are subject to a four month hold period. The first tranche of the Offering and payment of the finder's fees have been accepted by the TSX Venture Exchange.

Golden Reign is also pleased to announce that due to demand from potential investors the Offering has been increased by $2,200,000 or 10,000,000 common shares. In aggregate, Golden Reign may issue up to 19,545,455 common shares at a price of $0.22 per share ('Issue Price') under the Offering, for gross proceeds of up to $4,300,000. Finder's fees of 6% cash and 7% finder's warrants ('Finder's Warrants') may become payable in connection with the second tranche of the Offering. Each Finder's Warrant will entitle the holder thereof to purchase one common share at an exercise price equal to the Issue Price for a period of eighteen (18) months from the date of closing.

The Company expects to close the second tranche of the Offering on or before January 15, 2017, subject to certain conditions, including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. All securities issued in connection with this tranche of the Offering will be subject to a four month hold period from the date of closing, in accordance with applicable Canadian securities laws.

The net proceeds from the Offering will be used for working capital, general corporate purposes and to accelerate exploration on targets outside of the San Albino area.

Insider Participation in Offering
John Conlon, Abraham Jonker and Leonard Dennis participated in the private placement by subscribing for an aggregate of 1,868,183 common shares for aggregate proceeds of $411,000. The participation by the directors is considered a 'related party transaction' as defined under Multilateral Instrument 61-101 ('MI 61-101'). The transaction is exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 as neither the fair market value of the units issued to, nor the consideration paid by, the related parties exceeded 25% of the Company's market capitalization.

On behalf of the Board,

'Kim Evans'
Kim Evans, CPA, CGA
President

For additional information please visit our website at www.goldenreign.com and SEDAR www.sedar.com.

Forward-Looking Statements:Some of the statements contained herein may be forward-looking statements which involve known and unknown risks and uncertainties. Such forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation, risks and uncertainties relating to political risks involving the Company's exploration and development of mineral properties interests, the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, the inability or failure to obtain adequate financing on a timely basis and other risks and uncertainties. Such information contained herein represents management's best judgment as of the date hereof, based on information currently available.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

Read the rest of the article at www.publicnow.com

Golden Reign Resources Ltd

EXPLORATION STAGE
CODE : GRR.V
ISIN : CA38116E1007
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Golden Reign is a gold exploration company based in Canada.

Its main exploration property is SAN ALBINO - MURRA GOLD in Nicaragua.

Golden Reign is listed in Canada. Its market capitalisation is CA$ 36.7 millions as of today (US$ 27.8 millions, € 24.7 millions).

Its stock quote reached its lowest recent point on December 19, 2008 at CA$ 0.01, and its highest recent level on July 22, 2011 at CA$ 1.45.

Golden Reign has 183 540 000 shares outstanding.

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Corporate Presentations of Golden Reign Resources Ltd
10/2/2007Larry Myles Reports: Two New Properties in Premier Russian ...
Financings of Golden Reign Resources Ltd
6/4/2013.: Oversubscribed Private Placement Closed
5/23/2013.: Proposed Private Placement Oversubscribed; Subscriptions ...
Option Grants of Golden Reign Resources Ltd
4/1/2011Signs Investor Relations Agreement
Project news of Golden Reign Resources Ltd
9/11/2013Drills 21.3 Metres Grading 7.20 g/t Gold and 14.2 g/t Silver...
7/12/2011(San Albino - Murra Gold).: Second Drill Rig in Operation, Update on Drilling at San ...
5/25/2011(San Albino - Murra Gold).: New Gold Zone Extended to 600 Metres Along Strike, Return...
5/18/2011(San Albino - Murra Gold).: Update on Drilling at San Albino
3/24/2011(San Albino - Murra Gold).: Continuity of Mina Estrella Vein Confirmed by Trenching
3/9/2011(San Albino - Murra Gold)Corporate Disclosure
Corporate news of Golden Reign Resources Ltd
6/16/2016San Albino Drilling Returns High-Grade Intercepts -- Includi...
6/16/2016Golden Reign Announces Stock Option Grant
6/9/2016Golden Reign Progresses San Albino Gold Project
5/12/2016Golden Reign Drills 3.8 Metres of 22.51 G/T Gold at San Albi...
5/5/2016Warrant Proceeds of $324,058 Received; San Albino Mine Drill...
4/5/2016Oversubscribed Private Placement Closed
4/5/2016Drill Program Underway At San Albino Mine
1/19/2016Golden Reign Appoints Kevin Bullock To CEO
3/27/2014Golden Reign Recovers 91% Of Gold In Metallurgical Tests Of ...
10/8/2013Trenching Doubles Arras Zone Strike Length, Intersects High-...
9/19/2013discovers additional high grade gold at San Albino deposit
6/11/2013.: Metallurgical Testing Returns High Gravity-Flotation Reco...
5/16/2013Initial Metallurgical Testing Returns High Gravity Recoverie...
3/26/2013Announces Adoption of Advance Notice Policy for Future Share...
3/21/2013.: Las Dolores Trenching Returns 21.00 g/t Gold and 21.9 g/t...
2/20/2013.: Drilling Restarts at the San Albino Gold Deposit
2/5/2013.: Trenching Returns 18.0 Metres of 3.40 g/t Gold and 7.0 g/...
1/24/2013.: Massive Sulphide Mineralization Discovered at San Pablo, ...
1/14/2013.: Southern District Trenching Program Update
1/7/2013Files NI 43-101 Technical Report and Resource Estimate on th...
11/7/2012Obtains Environmental Permit for San Albino-Murra Gold Prope...
10/31/2012Acquires Remaining 20% Interest in San Albino-Murra Gold Pro...
9/24/2012.: Underground Sampling at Mina Francisco Returns 13.04 g/t ...
9/17/2012.: Regional Trenching Program Overview-Southern District
9/10/2012.: Regional Trenching Program Underway at San Albino-Murra C...
5/2/2011.: Second Gold Zone Discovered in Southern District-Trenchin...
4/21/2011.: Second Drill Contracted, San Albino Mine Re-Opened
4/12/2011.: New Gold Zone Discovered in Southern District-Trenching I...
3/16/2011Plans 2011 Drill Program
11/19/2007 Butarni Property, Far East Russia
11/14/2007Initial Assay Results Received For Dorozhni Property, Far Ea...
10/24/2007Discovers Potential New Gold Zone in Russian River Bed
9/24/2007Work Underway At Dorozhni Property, Far East Russia
6/28/2007Adds Additional Claims To British Columbia Uranium Prospect
6/21/2007Completes Formal Agreement With Russian Bank to Acquire Inte...
5/23/2007Options British Columbia Uranium Prospect
5/14/2007Signs Letter of Intent with Russian Bank to Acquire Interest...
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