Golden Band Resources Inc GBRIF

News

[889900]

Sprott onboard! They must be thinking that gold could be mined profittable! Golden Band Resources Announces Private Placement SASKATOON, SASKATCHEWAN, Feb 1, 2006 (CCNMatthews via COMTEX) -- Golden Band Resources Inc. (TSX VENTURE:GBN) (the "Company") announced today that it has arranged for a non-brokered private placement with Sprott Asset Management Inc. of 3,773,585 of its common shares at a price of $0.265 per share, for gross proceeds of $1,000,000. This financing is subject to the normal regulatory approval of the TSX Venture Exchange and the successful completion of due diligence by Sprott Asset Management Inc. Proceeds from the private placement will be used to fund exploration work on the Company's La Ronge Project in Saskatchewan and for general working capital. A finder's fee payable in common shares of the Company representing 5% of the gross proceeds raised from the private placement will be payable to Thomas O'Brien at closing. The securities offered hereby will be subject to a four-month plus one-day hold period from the closing date in accordance with applicable securities laws. On behalf of the Board of Directors, Ronald Netolitzky, President, and Director