VANCOUVER, BC / ACCESSWIRE / November 08, 2019 / GREAT ATLANTIC RESOURCES CORP. (TSXV:GR) (the 'Company' or 'Great Atlantic') is pleased to announce that it has closed its non-brokered private placement previously announced on October 31, 2019. The placement consisted of 421,053 flow through shares at a price of $0.475 per share for gross proceeds of $200,000. Each Flow-Through share consists of one common share that qualifies as a 'flow-through share' as defined in subsection 66(15) of the Income Tax Act.
The net proceeds from the offering will be used for exploration expenses on the Company's mineral properties in Atlantic Canada. The Company paid a cash commission of $16,000. and issued 33,684 finders warrants to Qwest Investment Fund Management Ltd. The finder warrants are valid for 2 years from closing with an exercise price of $0.475. All securities issued in connection with the Offering will be subject to a hold period expiring March 5, 2020.
On Behalf of the board of directors
'Christopher R Anderson'
Mr. Christopher R. Anderson 'Always be positive, strive for solutions, and never give up'
President CEO Director
604-488-3900 - Dir
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold.
This press release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
SOURCE: Great Atlantic Resources Corp.
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