Garrison Appoints Stephen Woodhead as Chief Financial Officer and Extends Previously Announced Private Placement Financing
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 08/10/11 -- Garrison International Limited (TSX VENTURE: GAU) ("Garrison" or the "Company"), is pleased to announce the appointment of Stephen Woodhead as Chief Financial Officer. Mr. Woodhead is a senior financial executive with over 20 years of experience in the natural resource and public finance sectors. He holds a Bachelor of Commerce from the University of Cape Town, South Africa and is a member of the South African Institute of Chartered Accountants. Mr. Woodhead has served in senior financial positions with several public companies, including Chief Financial Officer of Desert Sun Mining Corp, until it was acquired by Yamana Gold in 2006. Gaetan Chabot has resigned as CFO and the Company would like to thank Mr. Chabot for his service.
In addition, the Company announces the extension of the private placement financing previously announced on June 3, 2011. The financing is a non-brokered private placement of up to 100,000,000 units (the "Units") at a price of $0.05 per Unit for aggregate gross proceeds of up to $5,000,000 (the "Offering"). Each Unit will consist of one common share of the Company (a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one further Common Share at an exercise price of $0.10 per Warrant for a period of two years from the closing of the Offering. The Offering remains subject to approval of the TSX Venture Exchange. For additional details, please refer to the Company's press release dated June 3, 2011.
About Garrison
Garrison is a junior mineral exploration company focused on acquiring and developing advanced stage gold properties in Mongolia. For complete details on Garrison International Ltd and its partners, management encourages investors and interested parties to view its public documents filed on SEDAR at .
Forward-Looking Statements
All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Garrison, the terms and closing of the Offering and the impact of Mr. Woodhead's appointment. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Garrison assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
Neither the 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.
Contacts:
Garrison International Ltd.
Blair Krueger
President & CEO
416-524-8150
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Datum: 10.08.2011 - 15:01 Uhr
Sprache: Deutsch
News-ID 1029517
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