09:42 AM EST - Golden Peaks Resources Ltd. : announced that it has negotiated a commercially reasonable efforts private placement with Canaccord Capital Corp. for up to four million units at a price of $0.51 per unit for gross proceeds of up to $2.04 million. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to subscribe for one additional common share at a price of $0.64 for a period of 18 months from the date of closing of the offering. The funds raised from the issuance of the units will be used for general exploration expenditures on company's La Fortuna and Golden Cateo properties in Argentina and for general working capital purposes. Closing of the Offering is anticipated to occur on or before October 28, 2009. Golden Peaks Resources Ltd.
shares T.GL are trading even at $0.66.
