Great Bear Closes Non-Brokered Private Placement
September 26 2013 - 12:39PM
Access Wire
Vancouver, B.C., September 26, 2013
- Great Bear Resources Ltd. (the
"Company") announces that further to its news release dated
August 29, 2013, the Company has completed a non-brokered private
placement at a price of $0.075 per unit (a "Unit"), to raise $450,000 (the "Offering"). Each Unit consists 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 until
September 25, 2018.
All securities issued
under the Offering are subject to a statutory hold period expiring
on January 26, 2014 in accordance with applicable Canadian
securities laws.
In
connection with the Offering, the Company has paid finder's fee of
$10,068.75 in cash, being 5% of the aggregate proceeds from the
sale of Units to purchasers introduced by a finder.
Net proceeds from the
private placement will be used for further exploration as well as
for corporate working capital.
The
Company also announces that 965,000 incentive stock options have
been allocated to directors, officers and consultants after closing
of the Offering. The stock options are exercisable at $0.15 per
share over five years.
The Company also
announces the resignation of Michael Walker as a director of the
Company. The Company would like to thank Mr. Walker for his
contribution to the Company and wish him well in his
endeavours.
For further information,
please contact Mr. Chris Taylor, P.Geo, President.
ON BEHALF OF THE BOARD
"Chris Taylor"
Chris Taylor, President
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.
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