2012-10-18 17:06:02 -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Toronto, Ontario CANADA, October 18, 2012 /FSC/ - Goldstream Minerals Inc. (GSX - TSX Venture),(the "Company") is pleased to announce that it has engaged Casimir Capital Ltd. (the "Sole Agent") to act as sole agent in connection with a proposed private placement (the "Offering") pursuant to which the Company will issue (subject to the offer-allotment option) up to a maximum of (i) 6,250,000 units ("Units") at a price of $0.16 per Unit and (ii) 16,666,667 "flow-through" units ("Flow-Through Units") at a price of $0.18 per Flow-Through Unit.
Each Unit shall consist of one common share of the Company ("Common Share") and one-half of one share purchase warrant of
the Company, each whole such share purchase warrant entitling the holder thereof to acquire one additional Common Share for a period of 24 months from the Closing Date (as herein defined) at an exercise price of $0.25 per Common Share. Each Flow-Through Unit shall consist of one "flow-through" common share in the Company and one-half of one share purchase warrant, each whole such share purchase warrant entitling the holder thereof to acquire one additional Common Share (which shall not be a "flow-through share") for a period of 24 months at an exercise price of $0.30 per Common Share.
The Company has also granted to the Agent an over-allotment option to increase the size of the Offering to issue additional Units and Flow-Through Units in any combination to raise additional gross proceeds of $1 million, exercisable in whole or in part at any time prior to 30 days following the Closing Date. The Agent will receive a cash commission and broker warrants as compensation for acting as agent in the Offering.
The closing of the Offering is expected to occur on November 1, 2012 (the "Closing Date") or such earlier or later date as may be agreed upon by the Company and the Sole Agent. The Offering remains subject to the approval of the TSX Venture Exchange.
About the Company
Goldstream Minerals Inc. is a gold exploration and development company with its material property being the Hardrock East Property located in the Beardmore-Geraldton gold camp of northern Ontario. The Hardrock East Property consists of over 350 square kilometres in the eastern portion of the Beardmore-Geraldton gold camp and is comprised of four different properties: Milestone, Adel, Pagwachuan Lake and Klotz Lake (Solarus).
ON BEHALF OF THE BOARD OF DIRECTORS
GOLDSTREAM MINERALS INC.
President & CEO
For further information, please contact Richard Kilpatrick, President & CEO, at (416) 309-4299.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has in any way passed upon the merits of the Transaction or approved or disapproved the contents of this press release. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian legislation, concerning statements regarding the business, operations and financial performance and condition of the Company. Forward-looking information includes, but is not limited to statements with respect to the anticipated developments in operations in future periods; planned exploration and development activities; the adequacy of financial resources; the interpretation of drill results; and the success of exploration activities. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled estimates", "forecasts", "intends", "anticipates", "does not anticipate", or "believes", or variations of such words and phrases or statement that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur", or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks inherent in the mining industry and risks described in the public disclosure of the Company which is available under the profile of the Company on SEDAR at www.sedar.com. Although management has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking statements that are incorporated herein, except in accordance with applicable securities laws.
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Source: Goldstream Exploration Ltd
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