GLAMIS
Glamis closes $6-million private placement
2008-03-20 12:17 ET - News Release
Mr. Brent McKercher reports
GLAMIS CLOSES PREVIOUSLY ANNOUNCED FINANCING
Glamis Resources Ltd. has closed its previously announced private placement of Class A shares and Class A shares issued on a "flow-through" basis. The private placement was fully subscribed and resulted in the issuance of 3.48 million Class A shares at a price of $1.15 per share, and 1.43 million flow-through shares at a price of $1.40 per share, for total gross proceeds of $6,004,000. GMP Securities L.P. acted as lead agent for a syndicate which included Northern Securities Inc.
Proceeds from the offering will be used for general corporate purposes and to incur qualifying expenditures to finance the company's drilling program in its core focus areas. The shares issued under the private placement will be subject to a four-month hold period expiring on July 21, 2008.
We seek Safe Harbor.