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$250,000 Private Placement Financing Closed

Blog by Goldbank Mining Corporation | December 31st, 2014

Goldbank Mining Corporation (“Goldbank”)(TSX.V-GLB) announces that it has closed its $250,000 private placement comprised of 8,333,333 units at $0.03 per unit, of which $200,000 is comprised of flow-through funds. Each unit consists of one common share and one four-year transferable warrant entitling the holder to purchase one additional share at a price of $0.05 per share. Subscribers to the private placement have agreed to not sell any shares issued to them for one year. Goldbank obtained a waiver from the TSX Venture Exchange with respect to the $0.05 minimum pricing requirement.

The $200,000 in flow-through proceeds will be used for necessary exploration expenditures to maintain and preserve Goldbank’s claims in the Klondike Goldfields, Yukon Territory, Canada. The $50,000 in non-flow-through proceeds will be used for working capital. None of the proceeds will be used for payments to related parties of Goldbank. The financing has been accepted for filing by the TSX Venture Exchange. The units are restricted from trading until May 1, 2015. 

As the closing of the private placement created a Control Person (Mr. Anthony Beruschi) within the meaning of TSX Venture Exchange policies, Goldbank obtained shareholder approval of the private placement and the creation of a Control Person by written consent of disinterested shareholders holding more than 50% of the issued shares of Goldbank in accordance with TSX Venture Exchange policies. Mr. Beruschi now holds 7,064,920 shares in the capital of Goldbank, representing approximately 29.35% of the issued and outstanding shares of Goldbank. If Mr. Beruschi were to exercise all of his warrants, he would hold 13,398,254 common shares of Goldbank representing approximately 44.06% of the then total outstanding common shares of Goldbank, assuming that no further common shares of Goldbank were issued.

Goldbank Mining Corporation is a Canadian exploration company actively exploring for gold in the Klondike Goldfields near Dawson City, Yukon, Canada.

For further information please e-mail jb@goldbankmining.com


PER: “James Boyce” Suite 702 – 889 West Pender Street
Vancouver, BC CANADA V6C 3B2
JAMES BOYCE Telephone: 604.683.3288
President & CEO Toll Free: 1.888.880.2288
Email: jb@goldbankmining.com


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. Cautionary Note to US Investors: This news release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.