Update on Non-Brokered Private Placement
August 29 2013 - 10:53PM
Access Wire
Vancouver, B.C., August 29, 2013
- Great Bear Resources Ltd. (the
"Company") announces that the Company has decided not to
proceed with the private placement for gross proceeds of up to
$450,000 previously announced in the Company's news release of
August 20, 2013. Alternatively, the Company announces that it will
proceed with a non-brokered private placement of units of the
Company (the "Units") at the price of $0.075 per Unit for gross proceeds
of up to $450,000 (the "Offering"). Each Unit will consist of one common share in the
capital of the Company (a "Share") and one half of a share purchase warrant (each
whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase
one additional Share (a "Warrant Share") at a price of $0.10 per Warrant Share for a period
of five years from the closing of the Offering.
The
Company may pay a finder's fee on the Offering within the maximum
amount permitted by the policies of the TSX Venture Exchange (the
"Exchange"). Closing of the Offering is subject to a number of
conditions, including receipt of all necessary corporate and
regulatory approvals, including the Exchange.
All securities issued in
connection with the Offering will be subject to a statutory hold
period of four months plus a day from the date of issuance in
accordance with applicable securities legislation. Proceeds from
the Offering with be used to further exploration as well as
corporate working capital.
For further information,
please contact Mr. Chris Taylor, P.Geo, President.
ON BEHALF OF THE BOARD
"Chris Taylor"
Chris Taylor, President
Investor Relations:
Robert Orr
Tel: 604-681-0037
Fax: 604-681-0094
ro@greatbearresources.ca
info@greatbearresources.ca
www.greatbearresources.ca
Neither 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.
This
news release is not for distribution to U.S. newswire services for
dissemination in the united states.
Great Bear Resources (TSXV:GBR)
Historical Stock Chart
From Jun 2024 to Jul 2024
Great Bear Resources (TSXV:GBR)
Historical Stock Chart
From Jul 2023 to Jul 2024
Real-Time news about Great Bear Resources Ltd (TSX Venture Exchange): 0 recent articles
More News Articles