Business
Great Atlantic Closes $2.2 Million Financing
VANCOUVER, BC / ACCESSWIRE / September 25, 2020 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (t...
About this update from Great Atlantic Resources Corp.
[{"type":"text","content":"Great Atlantic Closes $2.2 Million FinancingVANCOUVER, BC / ACCESSWIRE / September 25, 2020 / GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the \"Company\" or \"Great Atlantic\") is pleased to announce that is has closed the first and final tranches of the non-brokered private placement previously announced on September 1, 2020 for gross proceeds of $2,240,000. The units of the financing are comprised of one common share at a price of $0.50 and a full share purchase warrant, which may be exercised for a period of 36 months at a price of $0.75 per share. The hold expiry date for the first tranche of this financing totaling $1,198,000 is January 17, 2021 and the hold expiry date for the final tranche of this financing totaling $1,042,000 is January 22, 2021Sitting in the middle of Canada's hottest emerging gold belt is GR's - Golden Promise Project with a 43-101 high grade resource of over 100,000 oz on the upper portion of one vein only. With multiple other gold bearing veins and new targets ready to explore and drill we are very much looking forward to initiating this year's drilling program as soon as possible, and join the company of our neighbours on either side of us Marathon Gold - MOZ.v and New Found Gold - NFG.v to further discover the Gold potential of this belt.States Christopher R Anderson - CEO Great Atlantic Resources The Company paid a cash commission of $75,780 and issued 151,560 broker warrants for the financing. The broker warrants have the same terms as the private placement warrants.The proceeds of the private placement will be used for general working capital and exploration work on the Company's properties.On Behalf of the board of directors\"Christopher R Anderson\"Mr. Christopher R. Anderson \"Always be positive, strive for solutions, and never give up\"President CEO Director604-488-3900 - DirInvestor Relations:Please call 604-488-3900About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Ca...