Stocks & Investing
Stocks and Investing
Stocks and Investing
Thu, December 22, 2011 
December 22, 2011 11:15 ET
Golconda Announces Shares for Debt Private Placement
CALGARY, ALBERTA--(Marketwire - Dec. 22, 2011) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Golconda (TSX VENTURE:GA) (the "Corporation" or "Golconda) announces that it intends to settle outstanding indebtedness owed to David E. Mullen, a director of the Corporation, and to a principal shareholder of the Corporation in an aggregate amount of $1,600,154 through the issuance of a total of 32,003,080 common shares of the Corporation at a deemed price of $0.05 per share. The securities issued pursuant to the private placement will be subject to a four-month hold period.
The completion of the private placement is subject to TSX Venture Exchange acceptance and other regulatory approval.
Golconda is in the business of exploration drilling in western and northern Canada, and mineral property exploration and development in British Columbia and Nevada.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The offered securities mentioned in this press release will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
This new release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Corporation's disclosure documents on the SEDAR website at [ www.sedar.com ]. The Corporation does not undertake to update any forward-looking information except in accordance with applicable securities laws.
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.
