Business
Great Atlantic Resources Closes First Tranche of Financing $1,280,500
VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (th...
About this update from Great Atlantic Resources Corp.
[{"type":"text","content":"Great Atlantic Resources Closes First Tranche of Financing $1,280,500VANCOUVER, BC / ACCESSWIRE / November 30, 2021 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the \"Company\" or \"Great Atlantic\") is pleased to announce that it has closed the first tranche of a non-brokered private placement originally announced on November 17, 2021, consisting of 3,201,250 flow-through shares at a price of $0.40 per share for gross proceeds of $1,280,500. Each Flow-Through unit consists of one common share that qualifies as a \"flow-through share\" as defined in subsection 66(15) of the Income Tax Act and one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non-flow common share at the price of $0.75 for 36 months after closing. The net proceeds from the Offering will be used for exploration expenses on the Company's mineral properties in Atlantic Canada.The Company paid a cash commission of $70,000 and issued 175,000 finders warrants to Qwest Investment Fund Management Ltd. The finder warrants are valid for 3 years from closing with an exercise price of $0.40. The Company also paid a cash commission of $2,800 and issued 7,000 finder warrants to Haywood Securities Inc. and paid a cash commission of $7,385 and issued 18,463 finder warrants to Arthur Perna. These finder warrants are valid for 3 years from closing with an exercise price of $0.75All securities issued in connection with the flow through Offering will be subject to a hold period expiring March 25, 2022. The closing of this private placement financing is subject to final TSX-V approval.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 DirectorInvestor Relations:Andrew Job 1-416-628-1560 [email protected] Line 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 Canada, Antim...