Guyana Frontier Mining Corp. (GYG.V) today updated its proposed
transaction with Horizonte Minerals Plc. for the acquisition of the
Falcao Gold Project. As previously announced in its news release of
November 6, 2012, Guyana Frontier has signed a definitive share
purchase agreement to acquire Falcao, located in northern Brazil,
by purchasing all of the shares of a subsidiary company of
On December 11, 2012, Guyana Frontier submitted to the TSX
Venture Exchange a draft disclosure document that describes the
proposed acquisition, including detailed technical and financial
Upon its review and acceptance by the TSXV, Guyana Frontier
intends to seek written consent from a majority of its shareholders
approving the acquisition of Falcao.
Following the receipt and confirmation of such shareholders'
written consent, Guyana Frontier would complete the acquisition of
Falcao in consideration for the issuance to Horizonte of 84,000,000
common shares of Guyana Frontier at a deemed price of $0.05 per
Closing of the acquisition transaction is now anticipated to
occur in January 2013.
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