Today's News ReleaseGolden Patriot Mining Inc (C-GPM) - News Release
Golden Patriot closes Yukon deal; raises $300,000
Golden Patriot Mining Inc GPM
Shares issued 11,823,700 Sep 15 2003 close $ 0.45
Tuesday September 16 2003 News Release
Mr. Raj Chowdry reports
Golden Patriot has completed its acquisition of an option to earn up to a 51-per-cent interest in the Scheelite Dome project, Yukon, from Copper Ridge Explorations Inc. as its qualifying transaction, the change of name of the company from Yardley Capital Inc. to Golden Patriot Mining Inc., and the 1:4 share subdivision reported in Stockwatch on June 19, 2003.
The company has also completed the previously announced private placement of three million units at a price of 10 cents per unit to raise gross proceeds of $300,000 for further exploration work on the Scheelite Dome property and general working capital. Each unit consists of one postsubdivision common share and one non-transferable share purchase warrant to purchase one additional postsubdivision share at an exercise price of 10 cents per share until Sept. 12, 2005. The common shares and any shares purchased upon the exercise of the warrants will be subject to resale restrictions until Jan. 13, 2004.
The company also confirms that Marek Kreczmer resigned as the president of the company effective Jan. 10, 2003, due to other business commitments, and Raj Chowdhry was appointed as the president of the company in his place. Mr. Kreczmer remains on the board of directors of the company, however, as a result of his resignation as president, he will of course not be devoting as much of his time to the affairs of the company, as was previously reported. Helen Hansen has also resigned as the secretary of the company effective Jan. 14, 2003, and Harpreet Dhaliwal has been appointed as the secretary of the company in her place.
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