RE: GPMHere it is,
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BUY
Vangelis
GOLDEN PATRIOT MINING INC. ("GPM")
[formerly Yardley Capital Inc. ("RDL.P")]
BULLETIN TYPE: Qualifying Transaction-Completed, Stock Split, Name Change, Private Placement-Non-Brokered
BULLETIN DATE: September 11, 2003
TSX Venture Tier 2 Company
Qualifying Transaction-Completed
TSX Venture Exchange has accepted for filing the Company's Qualifying Transaction described in its Information Circular dated July 15, 2003. As a result, at the opening on September 12, 2003, the Company will no longer be considered a Capital Pool Company. The Qualifying Transaction includes the following:
Property-Asset Agreement
By a letter agreement dated June 14, 2003, the Company acquired the right to purchase up to an undivided 51% interest in the Scheelite Dome Property, Mayo Mining District, Yukon Territory from Copper Ridge Explorations Inc. ('Copper Ridge') The Company can earn its 51% interest in the Property by paying $10,000 to Copper Ridge (paid), issuing an aggregate of 500,000 post subdivision common shares to Copper Ridge Explorations Inc., and incurring an aggregate of $2,500,000 in exploration expenditures on the Property in annual installments on or before December 31, 2008.
100,000 post subdivision shares will be issued to Robert van Doorn as a finder's fee in connection with this transaction.
The Exchange has been advised that the above transactions, approved by Shareholders on August 20, 2003, have been completed.
In addition, the Exchange has accepted for filing the following:
Stock Split, Name Change
Pursuant to Special Resolutions passed by shareholders August 20, 2003, it was resolved that:
(a) the Company's name be changed from Yardley Capital Inc. to Golden Patriot Mining Inc.; and
(b) the Company's common shares will be split on a 1 old for 4 new basis.
Effective at the opening September 12, 2003, the common shares of Golden Patriot Mining Inc. will commence trading on TSX Venture Exchange, and the common shares of Yardley Capital Inc. will be delisted.
The common shares of the Company will commence trading on a split basis at the opening September 12, 2003. The Company is classified as a 'Gold Mining' company.
Post - Split
Capitalization: 400,000,000 shares with no par value of which
11,823,700 shares are issued and outstanding
Escrowed Shares: 4,000,000 Common Shares
Transfer Agent: Pacific Corporate Trust Company
Trading Symbol: GPM
CUSIP Number: 38114Y 10 8
Letters of Transmittal will be used to effect this share split. Letters of Transmittal will be mailed to shareholders to return their present share certificates in exchange for new share certificates.
Private Placement-Non-Brokered
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced June 19, 2003:
Number of Shares: 3,000,000 shares
Purchase Price: $0.10 per share
Warrants: 3,000,000 share purchase warrants to purchase 3,000,000 shares
Warrant Exercise Price: $0.10 for a one year period
$0.10 in the second year
Number of Placees: 22 placees
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s). The Company must also issue a news release if the private placement does not close promptly.
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