www.goldenstate.com.au
Golden State Resources Limited (GDN) is an ASX-listed public company with headquarters in Perth, Western Australia. Floated in 1996, the Company is primarily focused on oil and natural gas exploration in the USA and gold projects in the Eastern Goldfields region of Western Australia.
Golden State Resources to raise funds for exploration in Golden Eagle Gas Field, Utah
Golden State Resources (ASX: GDN) has announced a non-renounceable rights issue of twenty four (24) options for every twenty five (25) shares held at an issue price of 1 cent per new option.
The new options will have an exercise price of 12 cents each and expire on 30 November 2010. The new options will be quoted on the ASX.
Based on full take-up by shareholders, the rights issue would raise approximately $3,814,900 before costs.
The Rights Issue is fully underwritten.
Funds raised will be used for exploration activities in the company's Golden Eagle Gas Field in Grand County Utah, and for working capital purposes.



















