Key Developments: Guyana Goldfields Inc (GUY.TO)

GUY.TO on Toronto Stock Exchange

3.04CAD
26 Nov 2014
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Latest Key Developments (Source: Significant Developments)

Guyana Goldfields Inc completes $185 mln project finance facility
Wednesday, 3 Sep 2014 07:30am EDT 

Guyana Goldfields Inc:Signs common terms agreement with International Finance Corporation, Export Development Canada, ING Capital LLC, Caterpillar Financial Services Corporation, and The Bank of Nova Scotia and other definitive documentation.Says respect to its previously announced credit approval for a $185 million project finance facility to fund development and construction of and general matters relating to, the 100 pct-owned Aurora Gold Project located in Guyana, South America.Says with completion of the Facility, the development of the Project is fully financed, subject to terms and conditions of the Facility.  Full Article

Guyana Goldfields announces change in financial year-end
Tuesday, 12 Aug 2014 07:30am EDT 

Guyana Goldfields Inc:Announce that, effective in 2014, its financial year-end will be changed from Oct. 31 to Dec. 31 to align GGI's financial reporting calendar with other public mining companies and to facilitate investment community's ability to compare its financial performance.GGI will report , one-time, fourteen month transition year covering the months of Nov. 2013 to Dec. 2014.Subsequent to transition year, Company's first full financial year will cover period Jan. 1, 2015 to Dec. 31, 2015.  Full Article

Guyana Goldfields Inc announces closing of private placement to raise $44.4 mln
Friday, 27 Jun 2014 07:30am EDT 

Guyana Goldfields Inc:Closes non-brokered private placement offering pursuant to which it has issued aggregate of 24,000,000 common shares at price of C$1.85 per common share to raise aggregate gross proceeds of C$44,400,000.  Full Article

Guyana Goldfields Inc announces fully subscribed private placement and increase of offering to C$44.4 million
Wednesday, 11 Jun 2014 12:34pm EDT 

Guyana Goldfields Inc:Increases size of its previously announced non-brokered private placement offering (Placement).Says Placement will provide for issuance of 24,000,000 common shares at price of C$1.85 per common share to raise aggregate gross proceeds of C$44,400,000.Placement has been fully subscribed.Placement is expected to close prior to the end of June 2014.  Full Article

Guyana Goldfields Inc Secures Engineering Contract For Early Works At Aurora Gold Project
Wednesday, 27 Mar 2013 06:19pm EDT 

Guyana Goldfields Inc announced that it has awarded its detailed engineering contract for early works at the Aurora Gold Project (Aurora). The Company has engaged Tetra Tech Inc., the author of the Updated Aurora Feasibility Study, for detailed engineering and design of early works at Aurora. Detailed engineering of the early works will be completed over the next 2 months and will include the construction drawings for the tailings storage facility, river dike, and water diversion dams. In addition, GGI has carried out direct discussions with various potential consultants and contractors for EPCM or EPC contracts that have recently designed and/or constructed mines of similar size, scope, geographical, and climatic conditions to Aurora.  Full Article

Guyana Goldfields Inc Closes Private Placement Financing With International Finance Corp (IFC)
Tuesday, 12 Mar 2013 04:47pm EDT 

Guyana Goldfields Inc announced that it has closed its previously announced private placement financing with the International Finance Corp (IFC) of the World Bank Group pursuant to which IFC subscribed for an aggregate of 1,633,335 common shares of the Company (the Common Shares), at a price of C$3.40 per Common Share for aggregate gross proceeds of C$5,553,339 (the Offering). The IFC now holds an aggregate of 6,911,516 Common Shares (or 5.5%) of the Company. The net proceeds of the Offering will be used to fund the development of the Aurora Gold project, for exploration expenditures and for general corporate purposes. The Offering remains subject to the final approval of the Toronto Stock Exchange.  Full Article

Guyana Goldfields Inc Announces Resignation Of President And Chief Operating Officer
Tuesday, 5 Mar 2013 07:07pm EST 

Guyana Goldfields Inc announced the resignation of Mr. Marcel. F. DeGuire as President and Chief Operating Officer (COO) of the Company effective July 15, 2013. Mr. DeGuire is resigning for personal reasons and remains available to assist the Company in advancing the development of the Project. Moving forward, the Company will immediately begin a search for a new President & COO to be based at the corporate head office in Toronto.  Full Article

Guyana Goldfields Inc Announces Private Placement Financing
Friday, 1 Mar 2013 08:12am EST 

Guyana Goldfields Inc announced that it has entered into an agreement with the International Finance Corporation (IFC) of the World Bank Group pursuant to which IFC has subscribed for an aggregate of 1,633,335 common shares of the Company (the Common Shares), at a price of CAD3.40 per Common Share for aggregate gross proceeds of CAD5,553,339 (the Offering). Upon closing of the Offering, the IFC will hold an aggregate of 6,911,516 Common Shares (or 5.55%) of the Company. The net proceeds of the Offering will be used to fund the development of the Aurora Gold project, for exploration expenditures and for general corporate purposes. The Offering remains subject to the final approval of the Toronto Stock Exchange.  Full Article

Guyana Goldfields Inc Announces Closing Of CAD100 Million Offering
Friday, 22 Feb 2013 09:08am EST 

Guyana Goldfields Inc announced that it has closed its previously announced bought deal offering (the Offering) pursuant to which the Company has issued 29,420,000 common shares (the Common Shares), at a price of CAD3.40 per Common Share for gross proceeds of approximately CAD100 million. The Common Shares were sold pursuant to an underwriting agreement with a syndicate of underwriters led by BMO Capital Markets and including Cormark Securities Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Raymond James Ltd., TD Securities Inc. and Paradigm Capital Inc. The net proceeds of the Offering will be used to fund the development of the Aurora Gold Project, for exploration expenditures and for general corporate purposes. The Company has also granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 4,413,000 Common Shares of the Company to cover over-allotments, if any, and for market stabilization purposes.  Full Article

Guyana Goldfields Inc Announces CAD100 Million Bought Deal Financing
Wednesday, 30 Jan 2013 03:34pm EST 

Guyana Goldfields Inc announced that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, as bookrunner, under which the underwriters have agreed to buy on a bought deal basis by way of a short form prospectus, 29,420,000 common shares (the Common Shares), at a price of CAD3.40 per Common Share for gross proceeds of approximately CAD100 million (the Offering). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The offering is expected to close on February 22, 2013 and is subject to the Company receiving all necessary regulatory approvals. The net proceeds of the offering will be used to fund the development of the Aurora Gold project and for general corporate purposes.  Full Article

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Guyana in political crisis after suspension of parliament

GEORGETOWN - - Guyana President Donald Ramotar's decision to suspend parliament to avoid a no-confidence motion against him has plunged the small former British colony into political crisis, as foes decry the president as a dictator.

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