Business
Grande Portage Resources Ltd. Completes Non-Brokered Private Placement
VANCOUVER, Dec. 19 /CNW/ - Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or "the Co...
About this update from Grande Portage Resources Ltd.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Dec. 19 /CNW/ - Grande Portage Resources Ltd. (TSX-V GPG)\n("Grande Portage" or "the Company") is pleased to announce that it has\ncompleted its non-brokered private placement of 1,700,000 flow-through units\nof the company at a price of $0.06 per FT Unit. Each FT Unit consists of one\nflow-through common share and one-half of a transferable non flow-through\ncommon share purchase warrant at an exercise price of $0.10 cents per share on\nor before December 18, 2010.\n\n\nThe flow-through proceeds raised in this offering will be used for\nCanadian exploration expenditures (as defined in the Income Tax Act (Canada))\nand will be renounced for the 2008 taxation year. The securities are subject\nto resale restrictions expiring April 19, 2009.\n\n\nAbout Grande Portage Resources Ltd.\n------------------------------------\nGrande Portage Resources Ltd. is a mineral exploration and development\ncompany focused on massive sulphide exploration in British Columbia. Grande\nPortage is operated by experienced managers and professionals who have been\neffective in discovery, mine development, and mining operations throughout\nNorth and South America, Africa, Europe, and Central Asia. The Company is well\nfinanced with no debt. More information is available online at\nwww.grandeportage.com.\n\n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n-------------------------------------\nAlistair MacLennan, Chairman\n\n\nStatements about the Company's future expectations and all other\nstatements in this press release other than historical facts are "forward\nlooking statements". Such forward-looking statements are based on numerous\nassumptions, and involve known and unknown risks, uncertainties and other\nfactors, including risks inherent in mineral exploration and development,\nwhich may cause the actual results, performance, or achievements of the\nCompany to be materially different from any projected future results,\nperformance, or achievements expressed or implied by such forward-looking\nstatements.\n\n\n THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT\n RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS\n NEWS RELEASE\n\n\n","length":2379,"tagName":"div"}]