Toronto, Ontario, September 20, 2016 – Golden Share Mining Corporation (the “Company” or “Golden Share” – TSXV:GSH) announces the completion of a non-brokered private placement (the “Private Placement”). An aggregate of 740,000 units of the Company (the “Units”) were issued at a price of $0.25 per Unit for gross proceeds of CAD $185,000 hard cash. Each Unit consists of one common share of the Company (a “Common Share”) and one half Common Share purchase warrant (a “Warrant”). Each Warrant entitles its holder to purchase one Common Share at the purchase price of CAD $0.35 per share at any time during an 18-month period beginning at the closing date. Any securities issued under the Private Placement would be subject to a statutory hold period of four months and one day from their date of issuance under applicable Canadian securities laws, expiring January 20, 2017. The private placement remains subject to the final approval of the TSX Venture Exchange.
Canaccord Genuity Corp. acted as a finder for a portion of the private placement and received a finder’s fee consisting of a cash payment of $2,800.
The company is pleased to announce that field work including a geophysical IP survey was successfully and safely completed at the Berens River Project. The program was completed prior to the beginning of the hunting season in the area as requested by the Sandy Lake First Nation. The preliminary results of the program appear encouraging.
The Company would also like to acknowledge that the recent field work at Berens River was approved for the Junior Exploration Assistance Program (JEAP) sponsored by the Ontario Heritage Fund Corp. and the Ontario Prospectors Association. Golden Share is pleased to see such needed support from these organizations during such a challenging time for the junior mineral exploration industry. The Company hope that support such as this will continue until more favourable financing conditions occur for exploration companies focused on advancing projects within the province of Ontario.
The Company also announces that it has granted an 18-month incentive stock option to a Director of the Company. The incentive stock option allows purchasing up to an aggregate of 200,000 Common Shares at $0.35 per share.
About Golden Share
Golden Share Mining Corporation is a Canadian junior mining company focusing on exploration in the province of Ontario, a politically stable jurisdiction with a long history mineral exploration and development.
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.
FOR MORE INFORMATION, CONSULT www.goldenshare.ca OR CONTACT:
Golden Share Mining Corporation
Nick Zeng, President & CEO
Tel: (905) 968-1199