New Issue: Ginguro Exploration settles C$1.15 million placement of units and stock

By Devika Patel

Knoxville, Tenn., Dec. 17 - Ginguro Exploration Inc. said it concluded a C$1.15 million non-brokered private placement of shares and units. The deal priced for C$1 million with a C$150,000 greenshoe on Nov. 26.

The company sold 5,638,333 units and 3,945,000 flow-through common shares at C$0.12 each.

Each unit consists of one common share and one half-share warrant, with each whole warrant exercisable at C$0.15 for 18 months.

Proceeds will be used for exploration, working capital and general corporate purposes.

Ginguro is a mineral explorer in Sudbury, Ont.

Issuer:	Ginguro Exploration Inc.
Issue:	Flow-through common shares, units of one common share and one half-share warrant
Amount:	C$1.15 million (including C$150,000 greenshoe)
Shares or units:	8,333,333
Price:	C$0.12
Agent:	Non-brokered
Pricing date:	Nov. 26
Settlement date:	Dec. 17
Stock symbol:	TSX Venture: GEG
Stock price:	C$0.13 at close Nov. 26
Market capitalization:	C$6.5 million
Flow-through shares
Amount:	C$473,400
Shares:	3,945,000
Warrants:	No
Units
Amount:	C$676,600
Units:	5,638,333
Warrants:	One half-share warrant per unit
Warrant expiration:	18 months
Warrant strike price:	C$0.15

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