Business
Goldstrike Closes Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 23, 2016) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(OTC PINK:APRAF)(FRANKFURT:KCG1). The Company pleased t
About this update from Trailbreaker Resources Ltd
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 23, 2016) - Goldstrike Resources Ltd. (TSX VENTURE:GSR)(OTC PINK:APRAF)(FRANKFURT:KCG1). The Company pleased to report that after its private placement was announced on March 16, 2016, the Company was contacted by several industry participants and companies, as well as accredited investors, inquiring about the financing and that it received a substantial number of new subscriptions for non-flow-through units (each an \"NFT Unit\") as well as flow-through units (\"FT Units\") totaling over $1,000,000. It completed the private placement of FT Units on March 21, 2016, raising gross proceeds from that offering in the amount of $929,902.38, and has NFT Unit subscriptions for ~$600,000 for aggregate gross proceeds of over $1,500,000. With new subscriptions for both NFT Units and FT Units the Company has raised over $1,500,000 without the participation of European investors who subscribed for $1.7MM of the originally announced financing. As reported on March 17, 2016, those subscribers requested additional incentives or more favourable terms in connection with the private placement. Goldstrike refused to accede to those requests and their subscriptions, totalling $1.7MM, were cancelled. The company is very pleased that with strong new demand it was able to replace a substantial portion of those subscriptions with new subscribers under the original terms in just a few days. This financing will leave the Company fully funded to execute this summer's planned Yukon exploration and drilling program on its flagship Plateau gold discovery where significant drill results have been obtained in multiple holes (best intersection to date 13.25 grams per tonne gold over 17.5 metres true width in the Goldstack Zone, including 35.88 grams per tonne gold over 5.7 metres). The company also recently added significantly to its cash position with the plan of arrangement which completed on February 29, 2016. The FT Units were issued at the price of $0.17 each. Each FT Unit is comprised of one common share which is a \"flow-through\" share for Canadian income tax purposes and one share purchase warrant (a \"$0.30 Warrant\"). Each $0.30 Warrant entitles the holder to purchase one additional common share which is not a \"flow-through\" share at the price of $0.30 for 24 months after Closing. The subscription p...