GOLDEN DAWN MINERALS INC. (the
"Company") (TSX-V: GOM
- News; FRANKFURT
EXCHANGE: 3G8) is pleased to announce it has now completed a private
placement with a subscription of 3,862,500 flow through units (the
"Units") of the Company at a price of $0.08 per Unit for total
proceeds of $309,000. Each Unit will comprise one flow through common share
and one half of a transferable common share purchase warrant. Each whole
transferable common share purchase warrant is exercisable for one additional
non flow through common share at $0.12 per share in the first year and $0.15
per share in the second year from the date of issuance. Mr
Frank Wright, a director of the Company, subscribed to 62,500 units and his
participation would be considered a "related party transaction" as
defined under Multilateral Instrument 61-101. The transaction will be exempt
from the formal valuation and minority shareholder approval requirements of
MI 61-101 as neither the fair market value of any shares issued to or the
consideration paid by such person will exceed 25% of the Company's market
capitalization.
All of the shares,
warrants and any shares issued upon exercise of the warrants comprising the
units are subject to a hold period and may not be traded in British Columbia
until April 10, 2011 except as permitted by the applicable Securities Acts
and the Rules made there under and the TSX Venture Exchange.
The Company will use the proceeds
towards a drilling program on its Greenwood properties and the Wild Rose
property in British Columbia.
ON BEHALF OF THE BOARD OF DIRECTORS OF
GOLDEN DAWN MINERALS INC.
"Wolf Wiese" _____________________________
Wolf Wiese President/CEO
THIS PRESS RELEASE WAS PREPARED BY
MANAGEMENT WHO TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. 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.
THIS DOCUMENT CONTAINS CERTAIN FORWARD
LOOKING STATEMENTS WHICH INVOLVE KNOWN AND UNKNOWN RISKS, DELAYS, AND
UNCERTAINTIES NOT UNDER THE COMPANY'S CONTROL WHICH MAY CAUSE ACTUAL RESULTS,
PERFORMANCE OR ACHIEVEMENTS OF THE COMPANY TO BE MATERIALLY DIFFERENT FROM
THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING
STATEMENTS. WE SEEK SAFE HARBOR.
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For further information
GOLDEN DAWN MINERALS INC. 575 1111 WEST
HASTINGS STREET, VANCOUVER, BC, V6E 2J3 Telephone: (604) 221-8936 Facsimile:
(604) 685-2360
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