Guyana Frontier Updates Falcao Gold Project Acquisition

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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 Horizonte.

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 information.

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 share.

Closing of the acquisition transaction is now anticipated to occur in January 2013.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

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