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Galore Announces Options to Acquire Additional Property in Proximity to its Dos Santos Property in Zacatecas State, Mexico, Renewal of its Non-Brokered Private Placement and a Loan Deferral Agreement
(via Thenewswire.ca) Vancouver, B.C. / TNW-ACCESSWIRE / June 10 2014 / Galore Resources ...
About this update from Galore Resources Inc.
[{"type":"text","content":"Galore Announces Options to Acquire Additional Property in Proximity to its Dos Santos Property in Zacatecas State, Mexico, Renewal of its Non-Brokered Private Placement and a Loan Deferral Agreement(via Thenewswire.ca)\n \n \nVancouver, B.C. / TNW-ACCESSWIRE / June 10 2014 / Galore Resources Inc. (TSX-V: GRI) is pleased to announce it has signed an Option Agreement to acquire the 5,603 hectare San Onesimo property, located south of the Dos Santos property in northern Zacatecas State, Mexico. Previous work on the San Onesimo property confirmed that the favourable host rocks the Company is exploring on Dos Santos, underlie the San Onesimo property. This is an early stage, underexplored property and a suitable target for applying Galore's exploration model developed at Dos Santos. \n\n \n \nIn April, the Company received the results for a 1,233 line-kilometre (770 line-mile) Helicopter Airborne Gravity Gradiometer and High Sensitivity Magnetic Survey over approximately 10,000 hectares (24,700 acres) of the Dos Santos Property. The Company has engaged an independent geophysicist familiar the geology of the area to provide an independent assessment and interpretation of the survey results. \n\n \n \nIn its news release of March 14, 2014, the Company announced a non-brokered private placement financing. Due to the soft conditions of the market at the time, the Board decided to postpone the financing until after it had received the results from the survey at Dos Santos.\n\n \n \nThe Company is therefore pleased to announce it will re-commence the process of conducting a non-brokered private placement financing for up to 9 Million units at a price of $0.05 per unit to raise gross proceeds of up to $450,000. Each unit (a \"Unit\") will consist of one common share and one share purchase warrant. Each warrant will be exercisable into one additional common share at a price of $0.10 per share for a period of two years from the date of closing of the financing.\n\n \n \nThe proceeds of the offering will be used to commence the anomaly follow-up phase for Dos Santos and for general working capital. \n\n \n \nThe private placement shall be subject to acceptance by the TSX Venture Exchange and all securities issued will be subject to a 4 month hold period from the date of issuance.\n\n \n \nGalore also announces it has entered into a Loan Defer...