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Golden Star Resources completes US$15M bought-deal financing

Golden Star ResourcesLtd. said May 9 that it has completed its previously announced bought-dealfinancing, raising approximately US$15 million for debt reduction and general workingcapital.

The company launchedthe financing with BMO Capital Markets Inc. in April, under which Golden Star issued22.75 million common shares at 66 U.S. cents apiece.

Golden Star also gave BMO an overallotment option to purchaseup to an additional 3,412,500 common shares at the same offering price, exercisableat any time within 30 days of the financing's closing. The full exercise of theoverallotment option will fetch about US$2.3 million for the miner.