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TMCNet: What's Money Anyway? Ask SILA.OB, BAC & CACB!! from Stock-PR.com

[July 30, 2010]

What's Money Anyway? Ask SILA.OB, BAC & CACB!! from Stock-PR.com

Stock-PR Reporting FREE Daily Stock Alerts From Stock-PR.com ________________________________________ Gold American Mining Corp. (SILA.OB) is pleased to provide an update on the financing activities of the Company.


Gold American entered into a $7.5 million equity financing agreement with a European institutional investment group that specializes in backing precious metals and mining ventures. Gold American is pleased to report that up to date Gold American have received funds in the amount of $300,000 in virtue of this agreement and that we still have a balance of $7.2 million that Gold American could call upon to fund our exploration and acquisition strategy. During 2010, Gold American have received total equity subscription proceeds of $500,000.

The funding will be utilized by Gold American in its ongoing acquisition strategy and specifically in the further exploration and development of its existing Keeno Strike Property in Nevada, which could potentially contain ~1.1 million ounces of gold and ~69.0 million ounces of silver accessible via open-pit bulk handling methods, and its Guadalupe Property in Mexico, which is located approximately 5 miles north of the world's richest underground silver mine, operated by the +$10 billion London Stock Exchange-traded company, Fresnillo plc.

"During the first half of this year, Gold American has raised $500,000 in equity financing without incurring any debt. These funds have helped the Company fuel its FY2010 exploration program and added to its working capital," stated Johannes Petersen, President of Gold American. "With the existing equity agreement in place, the Company is well-positioned to take advantage of improved global financial and commodity market conditions," added Mr. Petersen.

Gold American Mining Corp., a development stage company, focuses on the acquisition, exploration, and development of mineral resource properties in North America. Gold American primarily explores for silver and gold deposits. Gold American's properties include Keeno Strike project, which is located in the Clark county, Nevada; and Guadalupe project that is located in Zacatecas State, Mexico. Gold American was formerly known as Silver America, Inc. and changed its name to Gold American Mining Corp. on June 23, 2010.

Bank of America Corporation(NYSE:BAC), a financial holding company, provides banking and nonbanking financial services and products to individual consumers, small- and middle-market businesses, large corporations, and governments in the United States and internationally. Bank of Americas Deposits segment generates savings accounts, money market savings accounts, certificate of deposits, individual retirement accounts, and checking accounts; and Global Card Services segment provides the U.S. consumer and business card, consumer lending, international card and debit card services. Bank of Americas Home Loans & Insurance segment offers consumer real estate products and services, including mortgage loans, reverse mortgages, home equity lines of credit, and home equity loans. Bank of America also provides property, casualty, life, disability, and credit insurance.

Bank of Americas Global Banking segment offers lending products, including commercial loans and commitment facilities, real estate lending, leasing, trade finance, short-term credit, asset-based lending, and indirect consumer loans; capital management and treasury solutions, such as treasury management, foreign exchange, and short-term investing options; and investment banking services comprising debt and equity underwriting and distribution, and merger-related advisory services. Bank of Americas Global Markets segment provides financial products, advisory services, financing, securities clearing, settlement, and custody services. Bank of Americas Global Wealth & Investment Management segment offers investment and brokerage services, estate management, financial planning services, fiduciary management, credit and banking expertise, and asset management products. Bank of America Corporation serves customers through a network of approximately 6,011 banking centers, 18,262 automated teller machines, telephone, and online and mobile banking channels.

Cascade Bancorp (NASDAQ:CACB), reported this month that it has entered into an agreement with each of David F. Bolger ("Mr. Bolger") and an affiliate of Lightyear Fund II, L.P. ("Lightyear") amending the Securities Purchase Agreements between Cascade and Mr. Bolger and Cascade and Lightyear dated October 29, 2009, as amended February 16, 2010, June 1, 2010 and June 30, 2010 (the "Securities Purchase Agreements") to extend their conditional commitments to July 30, 2010.

Cascade Bancorp CEO Patricia L. Moss commented, "We continue to be encouraged by a heightened level of activity in the capital markets as we seek to complete our capital raise. The continued support of Lightyear and Mr. Bolger are sincerely appreciated, as is their shared confidence in our company. We continue our efforts to raise the additional capital required to consummate the transactions under the Securities Purchase Agreements." Per the new agreement, the extended date by which conditions of closing must be satisfied is now July 30, 2010. The sales to Mr. Bolger and to Lightyear are conditioned upon Cascade's simultaneous sale of shares of its common stock in additional private placements to other investors under separate written agreements such that the total net proceeds from the offerings is at least $150 million, in addition to the other closing conditions set forth in each of the Securities Purchase Agreements.

Cascade Bancorp, headquartered in Bend, Oregon and its wholly-owned subsidiary, Bank of the Cascades, operates in Oregon and Idaho markets. Founded in 1977, Bank of the Cascades offers full-service community banking through 32 branches in Central Oregon, Southern Oregon, Portland/Salem and Boise/Treasure Valley.

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