GGP just released an announcements regarding funding..just...

GGP just released an announcements regarding funding..just speculating but could this be related to our pending announcement on funding? See the announcement below:

The board of Golden Gate Petroleum Limited is pleased to announce the signing of a term sheet for an AUD $15
Million, 3 year Equity Funding Facility with Centurion Private Equity, LLC (?gCenturion?h), an institutional investor
managed by Roswell Capital Partners, LLC (?gRoswell?h) based in Atlanta, Georgia, USA. The funding was arranged by
the principals of C4 Capital Markets, LLC through their registered broker dealer, Intellivest Securities, Inc.
The term sheet is subject to (i) the parties entering into formal agreements setting forth their respective rights and
obligations, (ii) the completion of due diligence on the Company?fs business to the Investor?fs satisfaction and (iii) the
receipt of all necessary regulatory approvals for the facility.
The Company has entered into this facility to strengthen its Balance Sheet capability to fund the expansion of its oil
and gas exploration and development program in Texas and Louisiana.
According to the term sheet, the Company, may (at its discretion) draw on the commitment by providing draw
down notices to Roswell during the next 3 years. Each drawdown is subject to a maximum amount, as well as a
floor price, below which the Company will not issue shares to Roswell. The ordinary shares will be issued at a price
equal to 95% of the market price, but not below the floor price.
This Equity Funding Facility may be terminated by the Company without penalty and there is no non?]usage fees
associated with the facility.
The facility does not prohibit the Company from entering into any other capital raising transactions.
Company Executive Chairman, Mr. Steve Graves stated: ?gWe are pleased to be working with the highly
experienced team at Roswell and that this funding facility is another milestone achieved in creating greater
certainty over the company?fs ability to execute its oil and gas exploration and development plans over the next
three years.?h
Paul Gorski, Senior Investment Officer at Roswell added: ?gWe are very excited to be working with Golden Gate and
look forward to providing the company with capital and support to help them achieve their commercial potential in
the coming years.?h
The use of the Equity Line funding facility is subject to shareholder approval to the extent at any time, that the
Company does not have