GSP Resource Corp. Closes First Tranche of Private Placement
July 14 2021 - 7:00AM
GSP Resource Corp. (
TSX-V: GSPR) (the
“
Company” or “
GSP”) announces
that it has closed the first tranche (the "
First
Tranche") of its non-brokered private placement (the
"
Private Placement"). Under the First Tranche, the
Company has issued 999,999 units (each, a “
Unit”)
at a price of $0.35 per Unit for gross proceeds of $349,999.65.
Each Unit consists of one ‘flow-through’ common share and one-half
of one transferable common share purchase warrant
(“
Warrants”). Each whole Warrant entitles the
holder to purchase one common share of the Company at a price of
$0.50 per share for a period of three (3) years following the date
of issuance.
In connection with the closing of the First
Tranche, the Company paid aggregate cash finder’s fees of
$21,699.96 and issued 61,999 non-transferable finder warrants to
certain brokers, having the same terms as the Warrants.
All securities issued pursuant to the Private
Placement are subject to a four-month hold period from the closing
date in accordance with applicable securities laws.
Proceeds from the Private Placement are expected
to be used for exploration and development work on the Company’s
Alwin Mine Copper-Silver-Gold Project.
The Company intends to complete a second tranche
of the Private Placement in the near future.
About GSP Resource Corp.: GSP
Resource Corp. is a mineral exploration & development company
focused on projects located in Southwestern British Columbia. The
Company has an option to acquire a 100% interest and title to the
Alwin Mine Copper-Gold-Silver Property in the Kamloops Mining
Division. GSP also owns 100% of the Olivine Mountain Property in
the Similkameen Mining Division of which it has granted an option
to earn a 60% interest to a third party.
Contact Information - For more
information, please contact: Simon Dyakowski, Chief Executive
Officer & DirectorTel: (604) 619-7469 Email:
simon@gspresource.com
Neither 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.
This news release does not constitute an offer
to sell or a solicitation of an offer to buy nor shall there be any
sale of any of the securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful, including any of the
securities in the United States of America.
Forward-Looking Information
This news release contains “forward‐looking
information or statements” within the meaning of applicable
securities laws, which may include, without limitation, use of
funds from the Private Placement, future exploration work on the
Company’s Alwin Project, closing of the second tranche of the
Private Placement, other statements relating to the technical,
financial and business prospects of the Company and other matters.
All statements in this news release, other than statements of
historical facts, that address events or developments that the
Company expects to occur, are forward-looking statements. Although
the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward-looking
statements. Such statements and information are based on numerous
assumptions regarding present and future business strategies and
the environment in which the Company will operate in the future,
including the price of metals, the ability to achieve its goals,
that general business and economic conditions will not change in a
material adverse manner, that financing will be available if and
when needed and on reasonable terms. Such forward-looking
information reflects the Company’s views with respect to future
events and is subject to risks, uncertainties and assumptions,
including those filed under the Company’s profile on SEDAR at
www.sedar.com. Factors that could cause actual results to differ
materially from those in forward looking statements include, but
are not limited to, continued availability of capital and financing
and general economic, market or business conditions, adverse
weather conditions, decrease in the price of copper and gold,
failure to maintain all necessary government permits, equipment
failures, the impact of Covid-19 or other viruses and diseases on
the Company’s ability to operate, approvals and authorizations,
failure to maintain community acceptance (including First Nations),
increase in costs, litigation, and failure of counterparties to
perform their contractual obligations. The Company does not
undertake to update forward‐looking statements or forward‐looking
information, except as required by law.
GSP Resource (TSXV:GSPR)
Historical Stock Chart
From Mar 2024 to Apr 2024
GSP Resource (TSXV:GSPR)
Historical Stock Chart
From Apr 2023 to Apr 2024