Business
Garibaldi closes $848,000 financing, grants stock options
Garibaldi closes $848,000 financing, grants stock options Garibaldi closes $848,00...
About this update from Garibaldi Resources Corp.
[{"type":"text","content":"\n\n\n\nGaribaldi closes $848,000 financing, grants stock options\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nGaribaldi closes $848,000 financing, grants stock options\nCanada NewsWire\nVANCOUVER, Dec. 24, 2015\n\n\n\nTSXV: GGIOTC: GGIFFFrankfurt: RQM\n\n\n\nVANCOUVER, Dec. 24, 2015 /CNW/ - Garibaldi Resources Corp. (TSX.V: GGI) (the \"Company\" or \"Garibaldi\") is pleased to announce that it has closed a non-brokered private placement, raising total gross proceeds of $848,000.\n\nThe company has issued 4,050,000 flow-through units at $0.16 per unit (gross proceeds of $648,000 CDN) and 1,666,667 non-flow-through units at $0.12 per unit (gross proceeds of $200,000 CDN) as detailed below.\n\nSteve Regoci, Garibaldi President and CEO, commented: \"2015 has been a very productive year for Garibaldi on the exploration front, advancing potential high-impact discoveries in both British Columbia and Mexico. We look forward to a vigorous start to 2016.\"\n\nPrivate Placement Details\n\nThe flow-through private placement at $0.16 contains one flow-through share in the capital of the Company and one-half of a non-transferable share purchase warrant. Each full warrant entitles the holder to acquire one additional common share of the Company at a price of $0.25 for a period of two years.\n\nThe non-flow-through private placement at $0.12 contains one common share in the capital of the Company and one full non-transferable share purchase warrant entitling the holder to acquire one additional common share of the Company at a price of $0.20 for a period of two years.\n\nThe units from this private placement are subject to a hold period and may not be traded until April 24, 2016.\n\nIn connection with the offering, Secutor Capital Management Corporation and Marquest Capital Markets fund will receive a total cash finder's fee of $45,405 CDN. Proceeds from the flow-through financing will be used to advance the Company's B.C. flagship Grizzly Project as well as other B.C. properties. Proceeds from the non-flow-through financing are intended for the Company's Mexico operations as well a...