Vancouver, B.C., Galore Resources Inc. (TSX-V: GRI) reports the closing of its previously announced non-brokered private placement of units of the corporation (the “Units”) for gross proceeds of CDN$419,577.10 (the “Financing”). In connection with the closing of the Financing, Galore issued 8,391,542 Units at a price of $0.05 per Unit with each Unit comprising of one common share in the capital of the Company (the “Shares”) and one common share purchase warrant (the “Warrants”).
Each Warrant is exercisable into one additional common share at a price of $0.08 per share for a period of five years from the date of closing of the Financing.
In connection with the private placement the Company paid a finder’s fee of 300,000 common shares to an individual who assisted in bringing investors into the Financing, in accordance with the policies of the TSX Venture Exchange.
The net proceeds of the offering will be used to commence drilling the El Alamo claim and for general working capital.
The securities issued pursuant to the Financing are subject to a hold period under applicable securities laws, which will expire February 5, 2019.
We thank our many stockholders for their continued support and we look forward to directing this Company to the future success we have all awaited.
ON BEHALF OF THE BOARD
To find out more about Galore Resources (TSX.V:GRI) please contact:
Mike McMillan at (210) 860-9212 (USA)
Please visit our website at www.galoreresources.com or contact us at [email protected].
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.
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