Deal sells 3 million units of one common share, one two-year warrant
By Devika Patel
Knoxville, Tenn., March 25 - Gold Reach Resources Ltd. said it will conduct a C$2.4 million non-brokered private placement of units.
The company will sell 3 million units of one common share and one warrant at C$0.80 per unit.
Each two-year warrant will be exercisable at C$1.10 in the first year and at C$1.25 in the second year. The strike prices are respective 22.22% and 38.89% premiums to the March 24 closing share price of C$0.90.
Proceeds will be used for exploration and general working capital.
The gold, silver and copper exploration company is based in Vancouver, B.C.
| Issuer: | Gold Reach Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$2.4 million
|
| Units: | 3 million
|
| Price: | C$0.80
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.10 in the first year, C$1.25 in the second year
|
| Agent: | Non-brokered
|
| Pricing date: | March 25
|
| Stock symbol: | TSX Venture: GRV
|
| Stock price: | C$0.90 at close March 24
|
| Market capitalization: | C$31.98 million
|
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