Mr. James Boyce reports
$500,000 PRIVATE PLACEMENT
Goldbank Mining Corp. has agreed to
a private placement financing of up to $500,000 comprising the sale of up to 10 million units at
five cents per unit. Each unit consists of one common share and one transferable warrant, each such
warrant entitling the holder to purchase one additional share at a price of 5.5 cents per share for five
years. Goldbank is relying on an exemption from the related party requirements of MI 61-101 for the
possible participation by control persons and other insiders of Goldbank in the financing, which
participation only occurs following approval in advance by independent directors. Up to $200,000 of
the financing is on a flow-through basis. Units will entitle holders to receive the tax benefits
applicable to flow-through shares in accordance with provisions of the Income Tax Act (Canada).
Proceeds of the financing will be used for payment of debt, working capital, and for exploration and
development of Goldbank's Klondike properties including costs related thereto. The financing is
subject to acceptance for filing by the TSX Venture Exchange.
Goldbank Mining is a Canadian exploration company actively exploring for gold in the
Klondike goldfields near Dawson City, Yukon, Canada.
We seek Safe Harbor.
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