VANCOUVER, BC / ACCESSWIRE / July 8, 2015 / Wolf Wiese, CEO of Golden Dawn Minerals Inc., (TSXV: GOM) (FSE: 3G8N.F) (the "Company" or "Golden Dawn") reports that the Company has closed its second tranche of a non-brokered private placement financing of 4,133,750 non flow-through units (the "NFT Units") at $0.08 per NFT Unit with a full warrant exercisable for two years at $0.10 per share and 3,501,688 B.C. Super flow-through units (the "FT Units") at $0.09 per FT Unit with a full warrant exercisable for two years at $0.105 per share, for a total of $645,852 ($330,700 and $315,152 respectively). This transaction is subject to TSX-V approval.
Golden Dawn will issue 4,133,750 NFT units and 3,501,688 FT units for gross proceeds of $645,852 in the second tranche. On June 9th, 2015, the Company issued 2,390,000 NFT units and 280,000 FT units for gross proceeds of $216,400 in the first tranche. The total aggregated gross proceeds for the first and second tranches are $862,252 (6,523,750 NFT units and 3,781,688 FT units).
Funds will be used to extend the #7 Adit of the Company's 100% owned May Mac Mine to the next mineralized Zone assumed to be 50 to 75 meters north of the existing face.
The NFT funds will be used to amend the existing permits on the May Mac Mine by permitting the planned 2015 underground development and drilling program.
The FT funds will be utilized for underground drifting and underground drilling at the May Mac Mine and surface drilling at both the Amigo Mine and the Lower Skomac Vein area of the May Mac Mine. The Amigo Mine is located 1,100 meters south of the May Mac Mine.
On behalf of the Board of Directors:
GOLDEN DAWN MINERALS INC.
"Wolf Wiese"
Wolf Wiese
Chief Executive Officer
For further information, please contact:
Corporate Communications
604-221-8936
[email protected]
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 TSXVENTURE 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 COMPANYTO BE MATERIALLY DIFFERENT FROM THE RESULTS, PERFORMANCE, OR ACHIEVEMENTS IMPLIED BY THESE FORWARD LOOKING STATEMENTS. WE SEEK SAFE HARBOR.