Gold Reach Resources announces completion of first tranche of non-brokered private placement

About this update from Surge Copper Corp.

[{"type":"text","content":"\n\nVANCOUVER, June 9, 2014 /CNW/ - Gold Reach Resources Ltd. (the \"Company\") (TSX-V:GRV) is pleased to announce that it has closed the first tranche of the non-brokered flow through private placement of 999,000, flow through units (each a \"FT Unit\") at a purchase price of $0.72 per FT Unit.  The private placement raised gross proceeds of $719,280.  Each Unit consists of one flow through common share (\"FT Common Share\") of the Company and one-half of a non‑transferable non flow through common share purchase warrant (\"Warrant\").  Each whole Warrant will entitle the holder to acquire one additional common share (a \"Warrant Share\") of the Company at an exercise price of $0.80 per Warrant Share for a period of 24 months from the closing date of the private placement.  If the Company's common shares trade at or above a weighted average price of $1.30 per share for 10 consecutive trading days, the Company may give notice that each warrant may expire in 30 days.  \n\nThe Company paid a finder's fee of $57,542.40 cash and 79,920 finder warrants to Secutor Capital Management Corp.  Each finder warrant will be exercisable at a price of $0.72 per share for a period of 24 months.\n\nAll of the securities issued pursuant to the private placement are subject to a minimum four month hold period which expires on October 4, 2014 pursuant to applicable Canadian securities laws.\n\nThe gross proceeds raised from the issuance of the FT Units will be used by the Company to incur exploration expenditures on the Company's properties in British Columbia and will constitute \"Canadian exploration expenses\" and \"flow through mining expenditures\" as defined in the Income Tax Act (Canada).  \n\nON BEHALF OF THE BOARD OF DIRECTORS\n\n\"Shane Ebert\"Shane Ebert, President/Director\n\nNeither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. \n\nThis News Release contains forward-looking statements, which relate to future events. In some cases, you can identify forward-looking statements by terminology such as \"will\", \"may\", \"should\", \"expects\", \"plans\", or \"anticipates\" or the negative of these terms or other comparable terminology. T...

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