|July 25, 2008|
Private Placement Financing and Business Divestiture
|Private Placement |
Garibaldi Resources Corp. (the "Company") announces that it has agreed to a non-brokered private placement of up to $1,000,000 of its securities consisting of the sale of up to 5,000,000 units at a price of $0.20 per unit, each unit consisting of one common share in the capital of the Company and one-half of a non-transferable share purchase warrant with each whole warrant entitling the holder to acquire one additional common share of the Company at a price of $0.30 per share for two years. A finders' fee in cash and securities will be payable with respect the private placement.
The private placement is subject to acceptance for filing by the TSX Venture Exchange.
Meridian Stone Inc. Divestiture
As part of the Company's decision to focus its efforts fully on its mineral resource exploration activities, the Company has divested itself of its 85% interest in Meridian Stone Inc. ("Meridian") to Meridian's existing management team.
GARIBALDI RESOURCES CORP.
per: "Steve Regoci" Steve Regoci, President
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