YAHOO Finance
PRESS RELEASE
Source: Global Gold Corp.
Global Gold Corporation Closes $13 Million Private Placement
Wednesday April 5, 3:56 pm ET
GREENWICH, CT–(MARKET WIRE)–Apr 5, 2006 — Global Gold Corporation (OTC
BB:GBGD.OB <; – News
< ; ) () has
closed a private placement raising thirteen million dollars with Aton
Securities, Inc. of New York City () acting as the Managing
Private Placement Agent. Global Gold will use the proceeds to fund its
mining and exploration projects in Armenia and in Chile, acquisition plans
as well as for working capital.
The transaction involved the issuance of ten million four hundred thousand
shares of common stock at $1.25 per share. Each new share issued carries a
warrant to purchase one third of one additional share at $2.00 per share.
The warrants are exercisable on or before the sooner of (a) April 1, 2008 or
(b) sixty (60) days following a determination that the weighted average
trading price of the common shares over a thirty (30) consecutive trading
day period commencing after August 1, 2006 is $3.00 USD or greater. Lead
investors include current shareholders Firebird Global Master Fund, Ltd.
() and East Capital (), as well as new
shareholders Farallon Capital Management (),
Persistency Capital (), QVT Financial
(), Prince Street Capital (), and Aton
International Ltd.
Global is currently focusing its work in Armenia in the North Central Belt
to produce gold and to bring historical reserve numbers up to Western
standards as well as in the gold and uranium Getik exploration area. Global
also has other interests in Armenia including joint ventures with Iberian
Resources and the right until December 31, 2009 to elect to participate at a
level of up to twenty percent with Sterlite Gold Ltd. or any of its
affiliates in any exploration project undertaken in Armenia. Global Gold
Corporation is located at 45 East Putnam Avenue, Greenwich, CT 06830. The
main phone number is 203-422-2300. More information can be found at
To the extent that statements in this press release are not strictly
historical, including statements as to revenue projections, business
strategy, outlook, objectives, future milestones, plans, intentions, goals,
future financial conditions, future collaboration agreements, the success of
the Company’s development, events conditioned on stockholder or other
approval, or otherwise as to future events, such statements are
forward-looking, and are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. The forward-looking
statements contained in this release are subject to certain risks and
uncertainties that could cause actual results to differ materially from the
statements made.
Contact:
Contact:
Drury J. Gallagher
ggc@globalgoldcorp.com
_____
Source: Global Gold Corp.
GBGD.OB
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From: Emil Lazarian | Ararat NewsPress