VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 13, 2007) - GREAT PANTHER RESOURCES LIMITED (TSX:GPR) ("the Company") has closed the private placement of $4.05 million Convertible Loan Notes announced on July 4, 2007. The Notes are unsecured, bear interest at 8% per annum, payable quarterly, and mature on July 14, 2011. Prior to or on maturity the principal amount of the Notes or any portion thereof is convertible into common shares of the Company at the conversion price of $2.25 per share.
The Notes and any common shares issued on conversion are subject to hold periods expiring November 14, 2007.
ON BEHALF OF THE BOARD
Kaare G. Foy, Executive Chairman
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 parameters 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, 2006 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
(604) 685-9744 (FAX)