DENVER, July 2, 2002 (PRIMEZONE) -- Golden Star Resources Ltd. ("Golden Star" or the "Company") (TSE:GSC) (AMEX:GSS) today announced that it has filed a registration statement in the United States and an amended and restated preliminary prospectus in Canada relating to the offering by the Company of 14 million units, each unit consisting of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable during the two years following the closing of the offering to purchase an additional common share. The units will be priced in the context of the market.
The offering is being underwritten in Canada by Canaccord Capital Corporation and BMO Nesbitt Burns Inc. and is being offered on an agency basis in the United States by Canaccord Capital Corporation (USA) Inc. and BMO Nesbitt Burns Corp. Any units sold on an agency basis in the United States will reduce by an equal amount the underwriting commitment of the Canadian underwriters.
A copy of the prospectus relating to the offering can be obtained from Canaccord Capital Corporation, telephone: (416) 869-3198, or BMO Nesbitt Burns, telephone: (416) 363-6996, extension 224.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This notice shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such State.
Golden Star has a 90% interest in the Bogoso/Prestea open-pit gold mine in Ghana, a 45% managing interest in the Prestea underground mine in Ghana, and is in the process of acquiring a 90% interest in the Wassa gold project in Ghana. In addition, the Company has other gold exploration interests in the Guiana Shield in South America and in West Africa. Golden Star currently has approximately 65 million shares outstanding and is listed on the Toronto Stock Exchange under the symbol "GSC" and on The American Stock Exchange under the symbol "GSS."
The statements contained in this press release are both historical and forward-looking in nature. The forward-looking statements involve risks and uncertainties including those relating to exploration, the establishment of reserves, the recovery of any reserves, future gold production, future costs of production, future permitting and future operations. Please refer to a discussion of these and other risk factors in Golden Star's Form 10-K and other Securities and Exchange Commission filings.