Offering finances company's exploration programs on the Ootsa property
By Devika Patel
Knoxville, Tenn., Oct. 15 - Gold Reach Resources Ltd. said it will conduct a C$2.1 million non-brokered private placement of units.
The company will sell 1.2 million units of one flow-through common share and one warrant at C$1.75 per unit.
Each whole one-year warrant will be exercisable at C$2.50. The strike price reflects a 47.06% discount to the Oct. 12 closing share price of C$1.70.
Proceeds will be used for exploration programs on the company's Ootsa property.
The gold, silver and copper exploration company is based in Vancouver, B.C.
| Issuer: | Gold Reach Resources Ltd.
|
| Issue: | Units of one flow-through common share and one warrant
|
| Amount: | C$2.1 million
|
| Units: | 1.2 million
|
| Price: | C$1.75
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$2.50
|
| Agent: | Non-brokered
|
| Pricing date: | Oct. 15
|
| Stock symbol: | TSX Venture: GRV
|
| Stock price: | C$1.70 at close Oct. 12
|
| Market capitalization: | C$45.94 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
