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GARIBALDI CLOSES FIRST TRANCHE FOR 2023 NICKEL MOUNTAIN DRILLING
GARIBALDI CLOSES FIRST TRANCHE FOR 2023 NICKEL MOUNTAIN DRILLING Canada NewsWire ...
About this update from Garibaldi Resources Corp.
[{"type":"text","content":"\n \n \n \n GARIBALDI CLOSES FIRST TRANCHE FOR 2023 NICKEL MOUNTAIN DRILLING\n \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.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TSXV: GGI\n \n OTC: GGIFF\n \n Frankfurt: RQM\n \n \n \n /NOT FOR DISTRIBUTION TO\n \n UNITED STATES\n \n NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Dec. 7, 2022\n \n \n /CNW/ - Garibaldi Resources (TSXV: GGI) (the \"\n \n Company\n \n \" or \"\n \n Garibaldi\n \n \") is pleased to announce the closing of the first tranche of flow-through units of the non-brokered private placement financing (the \"\n \n Financing\n \n \") announced on\n \n November 29, 2022\n \n .\n \n \n The Company sold an aggregate 8,836,666 flow-through units (each, a \"\n \n Unit\n \n \") at\n \n $0.30\n \n per Unit for aggregate gross proceeds of\n \n $2,651,000\n \n . Each Unit was comprised of one flow-through common share and one-half of one common share purchase warrant. Each whole warrant is exercisable at\n \n $0.45\n \n per common share for a period of three years. The first tranche of Units includes an aggregate of 800,000 non-flow-through units at\n \n $0.25\n \n per unit for aggregate proceeds of\n \n $200,000\n \n . Each Unit is comprised of one non-flow-through common share and one-half of one common share purchase warrant. Each whole warrant is exercisable at\n \n $0.40\n \n per common share for a period of three years.\n \n \n The proceeds from the flow-through financing will be used to explore Garibaldi's base metal prospects under the new Federal Government (CMETC) initiative announced in the most recent federal budget. Follow-up drilling will test for mineralization associated with broad ZTEM Low-resistivity anomalies identified by the property wide Geotech ZTEM survey. Drilling in 2022 intersected sulphide nickel-copper mineralization (assays pending) coincident with newly identified ZTEM anomalies (see news release Sept.22, 2022). These broad geophysical targe...