Golden Alliance Amendment of Share Purchase Warrants
(via Thenewswire.ca)
Golden Alliance Resources Corp. (TSX-V: GLL, Frankfurt: GA0, "Golden Alliance" or the "Company") announces that it proposes to extend the expiry dates of subscriber warrants issued as part of three (3) private placements in April, September and November, 2010 by eighteen (18) months. All other terms and conditions of the warrants, including their price, remain unchanged. The proposed extension of the expiry dates is subject to regulatory approval.
"While we are encouraged with the progress the Company is making towards completing the Environmental Impact Assessment Study that is necessary for obtaining the drilling permit for Rio Tabaconas Project," stated Normand Champigny, President & Chief Operating Officer "we recognize that there has been a significant delay in order to carry out an extensive consultation process with local communities."
In April 2010, the Company issued 3,200,000 warrants exercisable at $0.35 until April 12, 2012 to subscribers of a private placement, of which, 2,890,000 are currently outstanding. The Company proposes to extend the expiry date for these warrants by eighteen (18) months to October 11, 2013 from April 12, 2012.
In September 2010, the Company issued a further 4,542,750 warrants exercisable at $0.65 until March 12, 2012 to subscribers of a private placement. The Company proposes to extend the expiry date for these warrants by eighteen (18) months to September 11, 2013 from March 12, 2012.
In November 2010, the Company issued a further 625,000 warrants exercisable at $1.00 until November 19, 2012 to subscribers of a private placement. The Company proposes to extend the expiry date for these warrants by eighteen (18) months to May 18, 2013 from November 19, 2012.
About Golden Alliance Resources Corp.
Golden Alliance is a company focused on gold, copper and silver exploration in Peru. The Company has a very strong portfolio of 100%-owned projects totaling 25,000 ha in Peru offering multiple opportunities for significant discoveries. Golden Alliance offers exceptional growth potential for shareholders with an attractive portfolio of highly-prospective exploration projects and a good pipeline of drill-ready acquisition opportunities under review. Golden Alliance is a member of the Grosso Group, a management company with over 18 years of experience in South America, and active in Peru since 1995.
ON BEHALF OF THE BOARD
"Normand Champigny"
_______________________________
Mr. Normand Champigny, President &COO
For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: info@goldenalliancecorp.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.
The securities referenced herein have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
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