Guyana Goldstrike Inc. (formerly Swift Resources Inc.), in connection with the acquisition of Romanex Guyana Exploration Ltd., has completed a non-brokered private placement of 8,885,235 units at a price of 20 cents per unit for gross proceeds of $1,777,047. Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder to acquire an additional common share of the company at a price of 30 cents per share for a period of 24 months.
In connection with closing of the private placement, the company paid fees of $45,720 and issued 203,600 warrants to eligible finders' who introduced subscribers to the company. All securities issued in connection with the private placement are subject to a four-month-and-one-day statutory hold period.
Following completion of the private placement, trading in the common shares of the company will resume on the TSX Venture Exchange at the open of markets on March 21, 2017, under the new symbol GYA.
In connection with closing of the private placement, Charles Hugh Maddin acquired 785,000 units, consisting of 785,000 common shares of the company, and 392,500 warrants. Cambrian Capital Corp., a holding company controlled by Mr. Maddin, holds 300,000 of the acquired units.
Following completion of the private placement, Mr. Maddin and Cambrian Capital have ownership and control of 3,648,750 common shares of the company, representing approximately 12.6 per cent of the company's current issued and outstanding common shares and 2,012,500 common share purchase warrants. Mr. Maddin and Cambrian Capital would have ownership and control of 5,661,250 common shares of the company, representing approximately 18.2 per cent of the then-issued and outstanding common shares of the company, assuming exercise of only the warrants held by each.
The units were acquired by each of Mr. Maddin and Cambrian Capital for investment purposes. In the future, additional securities of the company may be acquired or disposed of, through the market, privately or otherwise, as circumstances or market conditions may warrant.
For further information and to obtain a copy of the early warning report filed under applicable Canadian provincial securities legislation in connection with the acquisition, please go the company's profile on SEDAR or contact Peter Berdusco at 1-877-844-4661.
The company also announces that it will grant 2.9 million incentive stock options to certain directors, officers and consultants of the company. The options are exercisable at a price of 25 cents for a period of five years. Completion of the grant of options remains subject to the approval of the TSX Venture Exchange.