Golden Hope Mines Announces Closing of Private Placement Financing
with SIDEX
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE U.S./
TSX VENTURE: GNH
PINK SHEETS: GOLHF
MONTREAL, Dec. 14, 2012 /CNW/ - Golden Hope Mines
Limited ("Golden Hope" or the "Company") (TSX VENTURE: GNH)
(Pink Sheets: GOLHF) - Golden Hope Mines Limited is
pleased to announce that it has closed a private placement with
SIDEX Limited Partnership ("SIDEX") for a gross proceeds of
$100,000 ("the Offering").
SIDEX was established by the Quebec Government and the
Solidarity Fund QFL. SIDEX's mission is to invest in companies
engaged in mineral exploration in Quebec in order to diversify Quebec's mineral base by promoting exploration
for minerals with attractive market potential, to open new
territories to exploration and investment where the potential for
discovery is significant and to stimulate investments for the
exploration of existing mining districts that show strong potential
for diversification;
The private placement consists of 1,111,111 Units ("Units")
issued at a price of $0.09, with each
Unit comprised of common share ("Common Share") and one-half one
Common Share purchase warrant (each whole Common Share purchase
warrant being a "Warrant") exercisable at $0.11 for eighteen (18) months after the closing
of the Offering.
Under applicable securities legislation and
policies of the TSX Venture Exchange, the securities issued or
issuable in the private placement are subject to a hold period
expiring on April 14, 2013.
The proceeds of the financing will be used for exploration of
Volcanogenic Massive Sulfide (VMS) targets located on the
Bellechasse Belt of southeastern Quebec.
About Golden
Hope:
Golden Hope is a mineral
exploration company that seeks to grow shareholder value through
the acquisition, exploration and development of potentially
large-scale gold and base metal projects suitable for underground
and/or open-pit mining. The Company's focus is in southeastern
Québec, Canada. The Company's
claim blocks lie within an area that extends approximately 100
kilometres along the Appalachians of southern Québec from near
Ste-Lucie-de-Beauregard to
approximately 16 kilometres southwest of Beauceville. The Bellechasse-Timmins gold
deposit lies 5 kilometres southeast of St-Magloire within the Bellechasse Belt, an
approximately 18 kilometre long mineralized area. The
Bellechasse-Timmins gold deposit includes the T1, T2A, T2B,
Ascot/Road gold zones, and the 88 Diorite. The Company is also
looking to develop the Champagne zone, a partially explored base
metal and gold deposit that lies within the Company's Bellechasse
Belt claims. A recently completed VTEM survey may identify other
similar targets along the horizon. The Company is also working to
develop other targets within its claim blocks including the FSG
gold and base metal target, Chute du Bras, the LG showing, Moose
Cliff, and Talon. For further information on Golden Hope please
visit www.goldenhopemines.com.
Statements Regarding Forward-Looking
Information: Information set forth in this news release
by Golden Hope Mines Ltd. may contain forward-looking
information within the meaning of Canadian securities laws.
Forward-looking information includes statements that relate to
future, not past, events. In this context, forward-looking
information often addresses the Company's expected future business
and financial performance, and often contains words such as
"anticipate", "believe", "plan", "estimate", "expect" and "intend",
statements that an action or event "may", "might", "could",
"should" or "will" be taken or occur, or other similar expressions
(including negative and grammatical variations). Such information
includes the use of the net proceeds from the financing by the
Company. By their nature, forward-looking information involves
known and unknown risks, uncertainties and other factors which may
cause the Company's actual results, performance or achievements, or
other future events, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking information. Such factors include, among others,
the following risks: the risks associated with any outstanding
litigation; risks associated with exploration activities and
project development; timing of and unexpected events regarding the
receipt and interpretation of drilling and assay results; delays in
the preparation of resource estimate updates; the need for
additional financing; operational risks associated with mineral
exploration; fluctuations in gold and other commodity prices; title
matters; technical and permitting issues; environmental liability
claims; insurance matters; reliance on key personnel; the potential
for conflicts of interest among certain officers, directors or
promoters with certain other projects; the absence of dividends;
competition; dilution; the volatility of our common share price and
volume; the impact of taxation; and general economic conditions.
Forward-looking information is based on management's beliefs,
estimates and opinions on the date hereof and the Company
undertakes no obligation to update any forward-looking information
if these beliefs, estimates and opinions or other circumstances
should change. Investors are cautioned against attributing undue
certainty to forward-looking information.
SOURCE Golden Hope Mines Limited