Deal funds exploration on Ox and Seel deposits at the Ootsa property
By Devika Patel
Knoxville, Tenn., June 24 - Gold Reach Resources Ltd. said it will conduct a C$2 million non-brokered private placement of units.
The company will sell 2 million units of one common share and one warrant at C$1.00 per unit.
Each one-year warrant will be exercisable at C$2.00. The strike price reflects a 127.27% premium to the June 21 closing share price of C$0.88.
Proceeds will be used for exploration on the Ox and Seel deposits at the company's Ootsa property in British Columbia and for general working capital.
The gold, silver and copper exploration company is based in Vancouver, B.C.
Issuer: | Gold Reach Resources Ltd.
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Issue: | Units of one common share and one warrant
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Amount: | C$2 million
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Units: | 2 million
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Price: | C$1.00
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Warrants: | One warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$2.00
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Agent: | Non-brokered
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Pricing date: | June 24
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Stock symbol: | TSX Venture: GRV
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Stock price: | C$0.88 at close June 21
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Market capitalization: | C$31.67 million
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