 Copperstone Air Photo showing Target Zones & Development
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| | December 31, 2007
American Bonanza Announces $1 Million Private Placement
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| | December 31, 2007 - AMERICAN BONANZA GOLD CORP. (TSX: BZA) ("Company") is pleased to announce that it has completed, subject to the approval of the TSX, a non-brokered private placement of 2,500,000 units, at a price of $0.40 per unit for gross proceeds of $1,000,000 Each unit consists of one common share, which will be designated as a "flow-through share" for the purposes of the Income Tax Act (Canada), one common share which will not be designated as a flow through share, and one half of one transferable common share purchase warrant with each full warrant entitling the holder to acquire one common share at a price of $0.30 until June 30, 2009. No commission was paid on the financing.
All securities issued in connection with the private placement are subject to four month hold period expiring April 30, 2008. The proceeds from this financing will be used primarily to fund ongoing exploration at Bonanza's Copperstone project in Arizona, USA and at its projects in Quebec and Ontario, and for general working capital.
About Bonanza
Bonanza acquires, explores and develops high-grade gold properties in North America, targeting areas with large gold endowments and stable political climates. Bonanza is advancing its flagship Copperstone gold property in Arizona and several other promising projects. For additional information about Bonanza please visit our website at www.americanbonanza.com
AMERICAN BONANZA GOLD CORP.
Brian Kirwin
President & Chief Executive Officer
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, including the likelihood of commercial mining and possible future financings are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include unsuccessful exploration results, changes in metals prices, changes in the availability of funding for mineral exploration, unanticipated changes in key management personnel and general economic conditions. Mining is an inherently risky business. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on the Company and the risks and challenges of its business, investors should review the Company's annual filing on Form 20F with the United States Securities Commission and its home jurisdiction filings that are available at www.sedar.com.
For further information call:
Eugene Toffolo, Investor Relations
Phone: 604-681-5755
Toll free: 1-877-687-5755
OR:
Susan Wilson, Corporate Communications
Phone: 604-688-7508
Email: [email protected] |
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| | You can view the Next News Releases item: Tue Feb 12, 2008, American Bonanza Signs A Letter Of Intent With Gryphon Gold Corporation To Merge The Companies
You can view the Previous News Releases item: Wed Dec 19, 2007, American Bonanza Closes $2 Million Private Placement And Agrees To Assignment Of Option Agreement For The Taurus Property
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