/THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS
NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES, AND DOES NOT
CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL
ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES./
TSX VENTURE EXCHANGE: GBM
TORONTO, Oct. 30, 2013 /CNW/ - Golden Bridge Mining
Corporation ("Golden Bridge") (TSX-V: GBM), a company listed on the
TSX Venture Exchange (the "Exchange"), is pleased to announce a
non-brokered private placement financing (the "Offering")
consisting of up to 1,428,571 flow-through common shares (the
"Flow-Through Shares") at a price of $0.35 per Flow-Through Share for gross proceeds
to Golden Bridge of up to $500,000,
and up to $500,000 principal amount
of unsecured convertible debentures (the "Convertible
Debentures").
The Convertible Debentures will have a maturity
date three years from the date of issue (the "Maturity Date"), will
bear interest at a rate of 8.0% per annum payable semi-annually,
and will be convertible into common shares at the holder's option
at any time prior to the Maturity Date at a conversion price of
$0.35 per common share.
Cash fees equal to up to 8% of the aggregate
gross proceeds raised under the Offering may be payable as finder's
fees to certain individuals at arm's length to Golden Bridge at its
discretion in connection with introducing subscribers to the
Offering.
It is expected that one or more insiders of the
Corporation may participate in the Offering. By virtue of their
participation, the Offering would constitute a "related party
transaction" under applicable securities laws. The Offering is
expected to close on or about November 15,
2013. The Corporation expects to release a material change
report including details with respect to the related party
transaction less than 21 days prior to the closing of the Offering,
which the Corporation deemed reasonable in the circumstances so as
to be able to avail itself of potential financing opportunities and
complete the Offering in an expeditious manner. Because the related
party transaction will not exceed specified limits, will constitute
a distribution of securities for cash and because the Corporation
is not listed on certain specified exchanges, it is expected that
neither a formal valuation nor minority shareholder approval will
be required in connection with the Offering.
The net proceeds of the Offering will be used to
fund Golden Bridge's mineral
exploration programs and for general working capital purposes.
The Offering remains subject to certain
conditions including, but not limited to, the approval of the TSX
Venture Exchange.
About Golden
Bridge
Golden Bridge was
incorporated under the laws of the Province of Ontario and is engaged in mineral resource
exploration and development in Canada. The Company is classified as a Tier 2
"Mineral Exploration" issuer company listed on the TSX Venture
Exchange.
READER ADVISORY
The TSX Venture Exchange Inc. has in no way
passed upon the merits of the proposed transaction and has
neither approved nor disapproved the contents of this press
release.
Statements in this press release may contain
forward-looking information. Any statements that are contained in
this press release that are not statements of historical fact may
be deemed to be forward looking statements. Forward-looking
statements are often identified by terms such as "may", "should",
"anticipate", "expects" and similar expressions. Forward-looking
information in this press release includes statements with respect
to insider participation in the Offering, the completion of, and
the expected use of proceeds from, the Offering, and the Offering
being exempt from minority approval and formal valuation
requirements pursuant to applicable securities laws. The reader is
cautioned that assumptions used in the preparation of any
forward-looking information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from
those predicted, as a result of numerous known and unknown risks,
uncertainties, and other factors, many of which are beyond the
control of Golden Bridge. The reader is cautioned not to place
undue reliance on any forward-looking information. Such
information, although considered reasonable by management at the
time of preparation, may prove to be incorrect and actual results
may differ materially from those anticipated. Forward-looking
statements contained in this press release are expressly qualified
by this cautionary statement.
The forward-looking statements contained in
this press release are made as of the date of this press release,
and Golden Bridge does not undertake
any obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by
securities law.
ON BEHALF OF THE BOARD
"Charles Qin"
Charles Qin,
Chief Executive Officer and Director
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.
SOURCE Golden Bridge Mining Corporation