Focused on Acquiring and Developing High Quality Gold and Diamond Properties
Channel Sample Results Returning Up to 146.19 g/t Au. (Average 22.75 g/t Au) and Drill Results Up to 19.64 g/t Au
Message: NEWS - Garrison International Ltd. Announces Private Placement of Common Share Units
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TORONTO, ONTARIO--(Marketwire - Dec. 24, 2007) - Garrison International Ltd. (TSX VENTURE:GAU) (the "Company") is pleased to announce that the TSX Venture Exchange has accepted the Company's previously disclosed private placement (the "Private Placement") of 2,300,000 common share units (each consisting of one common share and one share purchase warrant) at $0.10 per unit, for total gross proceeds of approximately $230,000. Each whole warrant is exercisable for one common share at a price of $0.14 per share until 24 months from the date of issue. All of the common shares and warrants issued by the Company pursuant to the Private Placement are subject to restrictions on trading that expire on April 13, 2007. There will be no further closings of this private placement. Regenesis Capital Management Inc. ("Regenesis") acted as agent for this private placement. In connection with the private placement, the Company paid Regenesis a commission of $23,000 representing 10% of the amount raised (which sum Regenesis elected to receive in cash), plus warrants exercisable for 230,000 common shares, representing 10% of the number of common share units placed. The warrants are subject to the same terms as the warrants provided to subscribers of this private placement. The net proceeds of the Private Placement will be used to fund the Company's exploration programs in Mongolia and for other permitted general corporate purposes. About the Company Garrison is a junior mineral exploration company focused on acquiring and developing advanced stage gold properties in Mongolia. For complete details on Garrison International Ltd. and its partners, management encourages investors and interested parties to view its public documents filed on SEDAR at www.sedar.com. For all Garrison International Ltd. investor relations needs, investors are asked to visit the Garrison International IR Hub at http://www.agoracom.com/ir/garrison where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to gau@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time. CAUTIONARY STATEMENT No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. All statements, other than statements of historical fact, in this news release are forward-looking statements that involve various risks and uncertainties, including, without limitation, statements regarding the future plans and objectives of Garrison International Ltd. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. These and all subsequent written and oral forward-looking statements are based on the estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Garrison International Ltd. assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. |
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