Business
GSP Resource Corp. Announces Private Placement Financing
(TheNewswire) Vancouver, British Columbia – March 17, 2025 – ...
About this update from Gsp Resource Corp.
[{"type":"text","content":"GSP Resource Corp. Announces Private Placement Financing \n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, British Columbia – March\n17, 2025 –\n \n\n TheNewswire\n-\n \n\n GSP Resource Corp. (\n \n\n TSX-V: GSPR / FSE:\n \n\n\n 0YD / OTC:\nGSRCF\n \n\n\n )\n \n\n (the “\n \n\n Company\n \n\n ” or “\n \n\n GSP\n \n\n ”) announces\nthat it intends to complete a non-brokered private placement (the\n“\n \n\n Private\nPlacement\n \n\n ”) of up to 4,000,000 units (each a\n“\n \n\n Unit\n \n\n ”) at a price of $0.10 per Unit for gross proceeds of up to\n$400,000.  Each Unit consists of one common share and one common\nshare purchase warrant (the “\n \n\n Warrants\n \n\n ”).  Each Warrant entitles the\nholder to purchase one common share of the Company at a price of $0.15\nper share for a period of two (2) years following the date of\nissuance.\n \n\n\n\n Certain insiders of the Company may acquire Units in\nthe Private Placement. Any participation by insiders in the Private\nPlacement will constitute a “related party transaction” as defined\nunder Multilateral Instrument 61-101—\n \n\n Protection of Minority Security Holders in\nSpecial Transactions\n \n\n (“\n \n\n MI 61-101\n \n\n ”). The\nCompany expects such participation will be exempt from the formal\nvaluation and minority shareholder approval requirements of MI 61-101\nas the fair market value of the Units subscribed for by the insiders,\nnor the consideration for the Units paid by such insiders, is expected\nto exceed 25% of the Company’s market capitalization.\n \n\n\n\n In connection with the Private Placement, the Company\nmay pay finders’ fees in cash or securities, or a combination of\nboth, as permitted by the policies of the TSX Venture Exchange (the\n“\n \n\n Exchange\n \n\n ”) and applicable securities laws.  All securities issued\npursuant to the Private Placement will be subject to a four-month hold\nperiod. The Private Placement is subject to approval by the\nExchange.\n \n\n\n\n The Company intends to use the net proceeds of the\nPrivate Placement\n \n\n towards exploration and\ndevelopment work on the\n \n\n Alwin Mine\nCopper-Silver-Gold Project and the Mer Claims and for c...