Gold Canyon Resources Inc V.GCU

Gold Canyon 3,576,957-share private placement

[20/20/12]

Gold Canyon 3,576,957-share private placement

Gold Canyon Resources Inc (C:GCU)
Shares Issued 144,222,582
Last Close 8/13/2013 $0.30
Wednesday August 14 2013 - Private Placement

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced Aug. 13, 2013.

Number of shares:3,576,957 shares Purchase price:23 cents per share Warrants:3,576,957 share purchase warrants to purchase 3,576,957 shares Warrant exercise price:40 cents for a two-year period Number of placees:16 placeesTotal pro group involvement:1,086,957 (one placee)

© 2013 Canjex Publishing Ltd.

[gog]

Down, down she goes. The once mighty GCU can't wait and finance at better rates? Oh hang on, let's do it now so the insiders can reap if and when the overall market improves with no care to the fundamentals. This puppy will survive but without a new find they're a dead dog.

[metylman2000]

I agree with the lousy timing of the private placement, as well as the price. However, to call GCU a "dead dog" until they make another find? They at valued at $40 million, with 5 million ounces (that are not hard to recover, and with relatively low cash costs). If that's the case, then point me to more "dead dogs" so I can buy them. Once the gold market turns up

[MrBigger]

Your forgetting the First Native issues. Why do U think Noront is where it is??

[metylman2000]

Noront is where it is because it will take billions to develop the resource, and right now, financing is tight for projects such as these, not to mention Cliffs has abandoned the project for the time being for the same reasons. Also, due to the size of the project (est $50 billion in value), it has drawn unwanted attention, and as a result, now they must wait until a judge decides what