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Great Panther Silver Limited (GPR)
Market: CDN Consolidated
$ 1.02
Oct 21, 2014, 10:54 PM EDT
Change: 0.01 (0.99%)
Volume: 123,730
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VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 14, 2005) - GREAT PANTHER RESOURCES LIMITED (TSX VENTURE:GPR) (the "Company") has closed the first tranche of its brokered private placement with Union Securities Ltd. announced on July 20, 2005. The Company issued 8,068,000 units at $0.45 per unit for gross proceeds of $3,630,600. Each unit comprises one common share and one-half of one transferable Series G share purchase warrant. Each full Series G share purchase warrant entitles the holder to acquire, upon exercise, one further common share of the Company until September 13, 2006 at a price of $0.62.

The Company paid cash commissions totaling $274,986, a cash finder's fee of $21,600, and granted 747,260 Agent's Compensation Options. Each Agent's Compensation Option entitles the holder to purchase one unit comprising one common share and one-half of one non-transferable Agent's Warrant, at $0.45 per unit, until September 13, 2006. Each full Agent's Warrant entitles the holder to acquire, upon exercise, one further common share of the Company until September 13, 2006 at a price of $0.62.

All securities issued and issuable under the first tranche of this private placement are subject to hold periods expiring on January 14, 2006.

ON BEHALF OF THE BOARD

Kaare G. Foy, Chairman and CFO

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) 685-9744 (FAX)
info@greatpanther.com
www.greatpanther.com

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