Deal funds company's exploration programs and general working capital
By Devika Patel
Knoxville, Tenn., June 27 - Gold Reach Resources Ltd. said it settled a C$1.21 million non-brokered private placement of units.
The company sold 1.1 million units of one common share and one warrant at C$1.10 per unit.
Each whole two-year warrant will be exercisable at C$1.40. The strike price reflects a 6.67% discount to the June 26 closing share price of C$1.50.
The company paid finder's fees to Haywood Securities Inc. and Canaccord Genuity Corp.
Proceeds will be used for exploration programs and 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 flow-through common share and one warrant
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Amount: | C$1.21 million
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Units: | 1.1 million
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Price: | C$1.10
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$1.40
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Agent: | Non-brokered
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Settlement date: | June 27
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Stock symbol: | TSX Venture: GRV
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Stock price: | C$1.50 at close June 26
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Market capitalization: | C$38.65 million
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