Business
Goldrea Resources Corp. - Private placement closes
Goldrea Resources Corp. - Private placement closes.
About this update from Goldrea Resources Corp.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, March 1 /CNW/ - Goldrea Resources Corp. (GOR: TSX.V, Pink\nSheets: GORAF) is pleased to announce that is has closed its private placement\nwith Sextant Strategic Opportunities Hedge Fund LP for the purchase of 500,000\nunits (\"Units\") at a price of $0.38 per Unit raising gross proceeds of\n$190,000. The private placement was previously announced on February 6, 2006.\nEach Unit consists of one common share in the capital of the Company and\none non-transferable share purchase warrant. Each warrant will entitle the\npurchaser to purchase one additional share exercisable up to February 24, 2008\nat a price of $0.46.\nThe shares and any shares issued upon exercise of the warrants shall not\ntrade on or before June 25, 2006.\n\nINCENTIVE STOCK OPTIONS\n-----------------------\n\nThe Company will grant incentive stock options to purchase an aggregate\nof 1,150,000 shares in the capital stock of the Company. The option will be\ngranted for a period of five years commencing March 1, 2006 at $0.65 per\nshare.\nThe Employee/Director stock options are subject to the approval of the\nregulatory authorities.\n\nOn Behalf of Management\n\nGOLDREA RESOURCES CORP.\n\n\"Larry W. Reaugh\"\n-----------------\n\nLarry W. Reaugh,\nPresident and Chief Executive Officer\n\nThe TSX-Venture Exchange has not reviewed and does not accept\nresponsibility for the adequacy or accuracy of this release. This news release\nmay contain certain \"Forward-Looking Statements\" within the meaning of Section\n21E of the United States Securities Exchange Act of 1934, as amended. All\nstatements, other than statements of historical fact, included herein are\nforward-looking statements that involve various risks and uncertainties. There\ncan be no assurance that such statements will prove to be accurate, and actual\nresults and future events could differ materially from those anticipated in\nsuch statements. Important factors that could cause actual results to differ\nmaterially from the Company's expectations are disclosed in the Company's\ndocuments filed from time to time with the Toronto Venture Exchange, the\nBritish Columbia Securities Commission and the US Securities and Exchange\nCommission.\n\n\n\n","length":2244,"tagName":"div"}]