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Golden Star Resources to raise US$15M in bought-deal financing

Golden StarResources Ltd. said April 28 that it will raise US$15 million inbought-deal financing, with BMO Capital Markets Inc. agreeing to buy 22,750,000common shares for 66 cents apiece.

Golden Star has granted BMO an option to purchase anadditional 15% of common shares to cover over-allotments, at the same terms.

Net proceeds will be put toward reducing debt, as well astoward working capital and general corporate purposes.

The company has US$73.9 million outstanding in a principalamount for its convertible debentures, which will mature June 1, 2017.

Closing of the financing is anticipated around May 9.