Golden Hope Mines closes private placement financing

On December 17, 2010, Golden Hope Mines Limited (TSX VENTURE:GNH) (OTCQX:GOLHF) announced the closing of a non-brokered private placement financing for gross proceeds of $3,700,000. The private placement consisted of 6,037,735 flow-through common shares and 1,250,000 units. Each unit consists of one non-flow-through common share and one-half of one common share purchase warrant entitling the holder thereof to purchase an additional common share at $0.53 per common share for a period of up to 24 months following the closing of the offering.

Golden Hope Mines was advised in this transaction by John Sabetti and Andrew Teehan (securities) and Mitchell Thaw (tax) of Fasken Martineau.