www.goldrushresources.ca
Goldrush Resources Ltd. is a junior mineral resource exploration company. It is exploring for gold in the West African country of Burkina Faso where it holds 5 highly prospective permits covering 922 sq. km. The Company's permits are all located within the West African Birimian Greenstone Belts having a prolific history of gold production in this area of the world.
Goldrush Resources to complete $2.0m private placement financing
Goldrush Resources (CVE:GOD) said Thursday it will raise up to $2.0 million through a non-brokered private placement financing.
The offering will consist of up to 12.5 million units at a price of $0.16 each.
Each unit will comprise one common share and one half share purchase warrant, with each full warrant entitling the holder to purchase an additional common share at price of $0.21 for a period of 18 months from closing.
The company said the proceeds of the financing will mainly be used to finance continued drilling and development at its Ronguen gold deposit in Burkina Faso, West Africa as well as at its other properties in the region.
The Ronguen Main Zone was estimated to contain 249, 000 ounces of gold in the inferred category, in early 2008. The company is now awaiting drill results from various targets on the gold deposit.
The new funds will also be used to acquire additional properties and for working capital purposes.
Current insiders of the company may participate in the financing, which remains subject to the approval of the TSX Venture Exchange, Goldrush said.



















