Business
GSP Resource Corp. Closes Over-Subscribed Private Placement
(TheNewswire) Vancouver, British Columbia – TheNewswire - April ...
About this update from Gsp Resource Corp.
[{"type":"text","content":"GSP Resource Corp. Closes Over-Subscribed Private Placement \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 –\n \n\n TheNewswire -\n \n\n April 2, 2025:\n \n\n GSP\nResource Corp. (\n \n\n TSX-V:\nGSPR\n \n\n ) (the “\n \n\n Company\n \n\n ” or\n“\n \n\n GSP\n \n\n ”)\n \n\n announces that, further to its\nnews release on March 17, 2025, it has\n \n\n\n\n closed an over-subscribed\nnon-brokered private placement\n \n\n (the\n“\n \n\n Private\nPlacement\n \n\n ”) of 5,250,000 units\n(“\n \n\n Units\n \n\n ”) at a price of $0.10 per Unit for aggregate gross\nproceeds of $525,000. Each Unit is comprised of one common share (a\n“\n \n\n Share\n \n\n ”) and one transferable common share purchase warrant\n(“\n \n\n Warrant\n \n\n ”). Each Warrant entitles the holder thereof to purchase\none common share of the Company at a price of $0.15 per share at any\ntime on or before April 2, 202\n \n\n 7.\n \n\n\n\n Two insiders of the Company (the President and Chief\nExecutive Officer and a Director) subscribed for a total of 450,000\nUnits for aggregate gross proceeds of $45,000 under the Private\nPlacement. Participation by the insiders constitutes a related party\ntransaction as defined under Multilateral Instrument 61-101\n(“\n \n\n MI 61-101\n \n\n ”). The Company is relying on the exemptions from the\nvaluation and minority shareholder approval requirements of MI 61-101\ncontained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair\nmarket value of the participation in the Private Placement by insiders\ndoes not exceed 25% of the market capitalization of the Company, as\ndetermined in accordance with MI 61-101.\n \n\n\n\n The Company paid aggregate cash finder’s fees of\n$7,000 and issued 70,000 broker warrants\n \n\n (“\n \n\n Broker\n \n\n Warrants\n \n\n ”)\n \n\n to certain brokers on a portion of the Private\nPlacement. The Broker Warrants are non-transferable and otherwise have\nthe same terms as the Warrants. The Shares and any common shares of\nthe Company that are issuable upon the exercise of Warrants and Broker\nWarrants are subject to statutory hold period of four months and one\nday following the closing date of the Private Placement in accordanc...