Guyana Frontier Announces Private Placement of Flow-Through Units

- February 24th, 2011

Guyana Frontier Mining Corp. (CVE:GYG), (formerly Shoreham Resources Ltd.), reports a non-brokered private placement for $350,000 through the sale of up to 700,000 flow-through units at a price of $0.50 per FT Unit.

Guyana Frontier Mining Corp. (TSXV:GYG), (formerly Shoreham Resources Ltd.), reports a non-brokered private placement for $350,000 through the sale of up to 700,000 flow-through units at a price of $0.50 per FT Unit. 

The press release is quoted as saying:

Each FT Unit will be comprised of one common share of the Company to be issued on a “flow-through” basis under the Income Tax Act (Canada) and one-half of one common share purchase warrant (each whole warrant a “Warrant”). Each whole Warrant will be exercisable to acquire one additional non-flow-through common share of the Company at any time for a two year period following issuance, at an exercise price of $0.70 per share in the first year and $0.75 per share in the second year.

Click here to access the entire news release.

Click here to access Guyana Frontier’s company profile.

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