TMX group TMXmoney

Great Panther Silver Limited (GPR)
Market: CDN Consolidated
$ 0.79
Nov 1, 2014, 1:03 AM EDT
Change: -0.02 (-2.47%)
Volume: 270,104
Day Low
0.77
Day High
0.83

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 10, 2008) - GREAT PANTHER RESOURCES LIMITED (TSX:GPR) announces a non-brokered private placement financing of up to Cdn$2,700,000 consisting of up to 13,500,000 units at Cdn$0.20 per unit. Each unit comprises one common share and one-half non-transferable share purchase warrant.

Each full warrant entitles the holder to acquire, upon exercise, one additional common share at Cdn$0.35 for a period of one year.

Finder's fees may be paid on portions of the private placement. The private placement shares, any shares acquired upon exercise of the warrants and any securities issued in payment of finder's fees will be subject to a four-month hold period.

The financing proceeds will be used primarily for additional working capital at the Company's 100% owned Guanajuato and Topia Mines in Mexico, and for general working capital purposes. The placement is subject to Toronto Stock Exchange approval.

ON BEHALF OF THE BOARD

Robert A. Archer, President & CEO

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include but are not limited to the Company's plans for production at its Guanajuato and Topia Mines in Mexico, exploring its other properties in Mexico, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward-looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risks involving the Company's operations in a foreign jurisdiction, uncertainty of production and cost estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, currency fluctuations, fluctuations in the price of silver, gold and base metals, completion of economic evaluations, changes in project parametres as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Annual Report on Form 20-F for the year ended December 31, 2007 and reports on Form 6-K filed with the Securities and Exchange Commission and available at www.sec.gov and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

SEC 20-F Statement Filed; Standard & Poor's Listed


FOR FURTHER INFORMATION PLEASE CONTACT:

Great Panther Resources Limited
Brad Aelicks

(604) 685-6465





Great Panther Resources Limited
Don Mosher

(604) 685-6465
(604) 899-4303 (FAX)
Email: info@greatpanther.com
Website: www.greatpanther.com

Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. View delay times for all exchanges. Market Data powered by QuoteMedia. See the QuoteMedia Terms of Use