Business
Great Republic Mining Completes Initial Public Offering and Lists on the Canadian Securities Exchange
Great Republic Mining Corp. (CSE: GRM) (the "Company" or "Great Republic") is pleased to announce that on June 8, 2022, it completed its initial public offering
About this update from Gold Orogen Resources Corp.
[{"type":"text","content":"Great Republic Mining Corp. (CSE: GRM) (the \"Company\" or \"Great Republic\") is pleased to announce that on June 8, 2022, it completed its initial public offering (the \"IPO\") of 7,860,000 common shares (each a \"Share\"), of which 360,000 Shares were sold pursuant to an over-allotment option, at a price of $0.10 per Share for gross proceeds of $786,000. The net proceeds from the IPO will be used to carry out exploration of the Company's project, the Porcher Property, located in the northwest part of British Columbia on Porcher Island. The net proceeds will also be used to make payments pursuant to the option agreement in respect of the Porcher Property, for general and administrative purposes and for working capital. Haywood Securities Inc. acted as agent (the \"Agent\") for the IPO. The Agent received a cash commission equal to 10% of the gross proceeds raised pursuant to the IPO and a corporate finance fee, in addition to the reimbursement of certain expenses. Additionally, the Company granted the Agent and members of its selling group non-transferable agent's compensation options entitling the holder to purchase an aggregate of 550,200 Shares at a price of $0.10 per Share, exercisable on or before June 8, 2024. The Shares were listed on the Canadian Securities Exchange on June 7, 2022 and immediately halted pending closing of the IPO. The Shares are expected to resume trading on June 9, 2022, under the symbol \"GRM\". This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Great Republic Mining Corp. Great Republic is engaged in the business of acquiring and exploring mineral resource properties. Great Republic has an option to acquire a 100% interest in the Porcher Property, which is composed of nine contiguous mineral titles covering an area of 3560.4 hectares in the northwest part of British Columbia, Canada, approximately 40 kilometres southwest of the ...