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 |   Mon Aug 18, 2008
Share Structure
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| Issued and Outstanding |
48,563,341 |
| Warrants |
5,964,205 |
| Options |
5,640,000 |
| Fully Diluted |
60,167,546 |
Warrants are exercisable at prices between $0.30 and $1.20 until various dates between December 12, 2009 and January 10, 2012. Golden Star Resources Ltd. holds 2,000,000 of the issued warrants and Teck Cominco holds 1,750,000 of the issued warrants.
Options to employees, management, consultants and directors are exercisable at prices between $0.25 and $0.42 until various dates between January 12, 2009 and February 6, 2013.
A private placement for 4,165,311 units at $0.38 per unit was recently completed, each unit consisting of one share and one half warrant, each warrant exercisable to purchase one share at $0.60 for 18 months.
Teck Cominco is financing the Company in two equal tranches at a price of $0.60 per unit, each unit consisting of one share and one warrant, each warrant exercisable to purchase one share at $1.20 for two years. The first financing tranche of 1.75 million units of the placement has been completed.
Funds from both recent financings will be used for exploration on the Company's properties, including the Ligidi permit, and for general corporate purposes.
For further information refer to the Company's financial statements. |
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