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Trading Symbol (TSXV): GPJ.H
VANCOUVER, Feb. 26 /CNW/ - Further to the February 19, 2007 news release,
GPJ Ventures Ltd. (the "Company" or "GPJ Ventures") is pleased to announce
that it has entered into an agreement with a syndicate led by Canaccord Adams
Limited ("Canaccord") and including BMO Capital Markets Corp., GMP Securities
L.P., Orion Securities Inc., Genuity Capital Markets, and Desjardins
Securities Inc. in respect of a brokered private placement of 435,000,000
subscription receipts of GPJ Ventures at a price of $0.75 per subscription
receipt to raise gross proceeds of $326.25 million. Each subscription receipt
will be exchanged for Units of the Company at closing of the acquisition. Each
Unit will consist of one common share of the Company and one-half of one
common share purchase warrant. Each full warrant will entitle the holder to
purchase one common share of the Company at a price of $1.50 per share for a
period that is five (5) years from the date of closing.
The Company is also pleased to announce that Mr. Pierre Lassonde has been
appointed as Special Advisor to the Board of Directors. Mr. Lassonde is
currently the President of Newmont Mining Corporation ("Newmont"). He joined
Newmont in 2002 following Newmont's acquisition of Franco-Nevada Mining
Corporation Limited, which he co-founded and served as President and Co-Chief
Executive Officer since 1982.
In 2002 he was awarded membership in the Order of Canada, the country's
highest civilian honor. He holds two honorary Doctorate degrees in
Engineering, from the University of Toronto and from the University of
Montreal. His philanthropic activities have included the funding of academic
buildings at the Ecole Polytechnique, as well as the endowment of the Lassonde
Mineral Engineering Program and the Lassonde Institute at the University of
Toronto, and the Lassonde New Venture Development Center at the University of
Utah. He holds a Bachelor of Arts degree from the University of Montreal, a
Bachelor of Science in electrical engineering from Ecole Polytechnique, and an
MBA from the University of Utah.
Completion of the private placement is subject to the prior approval of
the TSX Venture Exchange, and to closing of the Company's acquisition of the
Peak Gold mine in New South Wales, Australia and the Amapari gold mine in
Brazil from Goldcorp Inc.
Completion of the transaction is subject to a number of conditions,
including TSX Venture Exchange acceptance and disinterested shareholder
approval. The transaction cannot close until the required shareholder approval
is obtained. There can be no assurance that the transaction will be completed
as proposed or at all.
The TSX Venture Exchange has in no way passed upon the merits of the
proposed transaction and has neither approved nor disapproved the
contents of this press release.
On behalf of GPJ Ventures Ltd.
"Gordon Keep"
President & Director
Forward-looking statements: This document contains statements about
expected or anticipated future events and financial results that are
forward-looking in nature and as a result, are subject to certain risks and
uncertainties, such as general economic, market and business conditions, the
regulatory process and actions, technical issues, new legislation, competitive
and general economic factors and conditions, the uncertainties resulting from
potential delays or changes in plans, the occurrence of unexpected events, and
the Company's capability to execute and implement its future plans. Actual
results may differ materially from those projected by management. For such
statements, we claim the safe harbour for forward-looking statements within
the meaning of the Private Securities Legislation Reform Act of 1995.
The TSX Venture Exchange has not reviewed, and does not accept
responsibility for the adequacy or accuracy of the content of this news
release.For further information: please contact Mr. Gordon Keep at (604) 609-6110
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