Montreal, Quebec -Golden Tag Resources Ltd. (TSX-V:GOG) announces the closing of the Convertible Debenture financing, resulting in gross proceeds to the Company of $200,000 ( see news release of December 22, 2009). The privately placed 12% two year unsecured convertible debentures are convertible into Golden Tag Common shares at a price of $0.205 per share. All shares are subject to a four month holding period from the date of closing. No finders fees were payable. The proceeds will be used for working capital.
Golden Tag Resources Ltd. is a junior exploration company exploring for high grade gold and silver deposits at the San Diego silver project in Durango State, Mexico; the Aquilon Gold Project in James Bay, Quebec; and the McCuaig gold project in Red Lake, Ontario. Golden Tag’s 50% interest in San Diego Resources represent 2.7 oz. silver equivalent per share with additional potential for increase.
For additional information, please contact:
Golden Tag Resources Ltd.
Marc A. Carrier, President & CFO
Ph: (514) 426-8542
Fax: (514) 426-8543
Cautionary Statement: Statements in the release that are "forward looking statements" are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially. For a discussion of the risk factors that are inherent in the Mining Industry see our public filings at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.