Gold Reach Resources Ltd. Announces $2,400,000 Non-Brokered Private Placement
25 Março 2014 - 10:30AM
Marketwired
Gold Reach Resources Ltd. Announces $2,400,000 Non-Brokered Private
Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 25, 2014) - Gold
Reach Resources Ltd. (the "Company") (TSX-VENTURE:GRV) announces it
has arranged a non-brokered private placement offering (the
"Offering") of 3,000,000 units ("Units") at a price of $0.80 per
Unit raising gross proceeds of $2,400,000. Each Unit is comprised
of one common share of the Company and one non-transferable common
share purchase warrant ("Warrant"). Each warrant entitles the
holder thereof to purchase one common share of the Company, for 24
months, at an exercise price of $1.10 per share in the first year
and $1.25 per share in the second year after the closing date of
the Offering.
Each Warrant will be subject to accelerated expiry provisions
which provide that if at any time after the date of closing of the
Offering, the Company's common shares trade on the TSX Venture
Exchange at or above a weighted average trading price of $1.35 per
share for 10 consecutive trading days and in the second year a
weighted average trading price of $1.50 per share for 10
consecutive trading days, the Company may give notice to the
holders that each Warrant will expire 30 days from the date of
providing such notice if the Warrant has not been duly exercised by
the holder.
The proceeds of the private placement will be used for the
purpose of carrying out the exploration programs on the Company's
British Columbia property and for general working capital.
The Company may issue finder's fees in connection with this
offering of 7% cash and 7% warrants.
The Offering and finder's fees are subject to the acceptance of
the TSX Venture Exchange.
ON BEHALF OF THE BOARD OF DIRECTORS
Conrad Swanson, Chairman
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Safe Harbor Statement: The Company relies upon litigation
protection for "forward-looking statements." The Company undertakes
no obligation to update these forward- looking statements in the
managements beliefs, estimates obligations or other factors should
change.
Gold Reach Resources Ltd.604-718-5454 or Toll Free:
888-500-4587info@goldreachresources.com
Gold Reach Resources Ltd. (TSXV:GRV)
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