Goldgroup Mining Inc. Closes $3 Million Private Placement
29.11.2010 | CNW
VANCOUVER, Nov. 29 /CNW/ - Goldgroup Mining Inc., TSX: GGA, ("Goldgroup" or the "Company") is pleased to announce that, further to the news release of November 24, 2010, it has closed a private placement with Mr. Sam Magid. The placement consists of 3,000,000 units at $1.00 per unit for gross proceeds of $3,000,000. Each unit consists of one common share of the Company and one warrant to purchase one additional common share at $1.25 per share until November 26, 2015. The securities issued in connection with the private placement are subject to a four month hold period expiring March 27, 2011. A cash commission equal to 6 % of the gross proceeds has been paid in connection with this placement.About Goldgroup
Goldgroup is a Canadian-based gold production and exploration Company focused exclusively on Mexico, targeting growth in gold production, mineral resources, profitability and cash flow from a portfolio of production, development and exploration stage projects. Goldgroup is led by a team of highly successful and seasoned individuals with extensive expertise in exploration, corporate finance and mine development in Mexico.
The Company owns and operates the Cerro Colorado Gold Mine in Sonora, Mexico. The Company\'s property portfolio includes its interests in the Caballo Blanco project in Veracruz and the San José de Gracia high-grade gold project in Sinaloa.
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release and the information contained herein does not constitute an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or exemption from registration.
For further information:
on Goldgroup, please visit www.goldgroupmining.com or contact:
Keith Piggott, CEO
T: 604-682-1943
David Fry, Corporate Development
Toll Free: 1-877-655-ozAu (6928)