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Goldmember Minerals closes qualifying transaction and financing for US$2.54 million

Fasken
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Goldmember Minerals

On December 21, 2007, Goldmember Minerals Inc. (formerly Holcot Capital Corp.) completed its previously announced qualifying transaction with Goldmember Ventures Corp. ("GVC"). Goldmember also completed a concurrent financing, raising gross proceeds of approximately $2,545,000 through the sale of 1,100,000 units of the Corporation and 3,333,333 flow-through units. Under the qualifying transaction, Goldmember undertook a three-cornered amalgamation with GVC and a wholly-owned subsidiary of the Corporation, whereby GVC and the subsidiary amalgamated to form "Goldmember Ventures Crop." which is a wholly-owned subsidiary of the Corporation. Under the amalgamation, each issued and outstanding common share and warrant of GVC was exchanged for one common share and warrant, respectively, of the Corporation. In addition, the Corporation changed its name from "Holcot Capital Corp." to "Goldmember Minerals Inc." It is expected that Goldmember's common shares will resume trading on the TSX Venture Exchange on or about January 4, 2007. Goldmember intends to spend a substantial portion of the gross proceeds from the financing, including all proceeds from the flow-through financing, to further explore and develop GVC's Nechako and Alexis properties. The remainder of the gross proceeds will be used for general and administrative expenses and for working capital. Goldmember is a drill ready mineral exploration company focused primarily on gold exploration in central British Columbia. Goldmember was advised in these transactions by a team from Fasken Martineau led by Rubin Rapuch, and including Georald Ingborg, Darrell Podowski, Lindy Bremner and Sarah Mamoser (securities/mining); and William Bies and Frank Schober (tax).

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