Third Tranche of Private Placement Financing Closed

- December 20th, 2011

The third tranche of the non-brokered unit private placement Golden Alliance Resources Corp. (TSXV:GLL,FWB:GA0) announced on November 22, 2011, November 28, 2011 and December 6, 2011, has closed. Through the issuance of 215,000 units at a price of $0.15 per unit, the third tranche raised gross proceeds of $32,250 The securities issued under the third tranche of the private placement are subject to a four month hold period expiring on April 21, 2012.

The third tranche of the non-brokered unit private placement Golden Alliance Resources Corp. (TSXV:GLL,FWB:GA0) announced on November 22, 2011, November 28, 2011 and December 6, 2011, has closed. Through the issuance of 215,000 units at a price of $0.15 per unit, the third tranche raised gross proceeds of $32,250 The securities issued under the third tranche of the private placement are subject to a four month hold period expiring on April 21, 2012.

As quoted in the press release:

Each unit will be comprised of one common share and one transferable warrant. Each warrant will entitle the holder, on exercise, to purchase one additional common share of the Company at a purchase price of $0.30 per warrant share for 18 months from the date of issue of the warrant. The warrant exercise period may be accelerated if: (a) the closing market price for the Company’s common shares on the TSX Venture Exchange is greater than $0.35 per share for a period of 10 consecutive trading days; and (b) the Company has obtained the drilling permit on the Company’s Rio Tabaconas project in Peru; then the Company may deliver a notice notifying the warrant holder that the warrants must be exercised within 30 days from the date of delivery of such notice, otherwise the warrants will expire on 31st day after the date of delivery of the notice. The accelerated exercise shall not apply until the expiration of the four-month hold period from the date of issuance required under TSX Venture Exchange policies and rules, and securities laws that are applicable to the Company.

Click here to read the Golden Alliance Resources Corp. (TSXV:GLL,FWB:GA0) press release
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