The Prospector News

Great Atlantic Resources Closes Second Tranche of Financing for a Total To-date of $1,436,500

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Great Atlantic Resources Closes Second Tranche of Financing for a Total To-date of $1,436,500

 

 

 

 

 

GREAT ATLANTIC RESOURCES CORP. (TSX-V:GR) (FRA:PH02) is pleased to announce that it has closed the second tranche of a non-brokered private placement originally announced on November 17, 2021, consisting of 390,000 flow-through shares at a price of $0.40 per share for gross proceeds of $156,000. Each Flow-Through unit consists of one common share that qualifies as a “flow-through share” as defined in subsection 66(15) of the Income Tax Act and one share purchase warrant. Each whole warrant will entitle the holder to purchase one additional non-flow common share at the price of $0.75 for 36 months after closing.

 

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 $1,120. and issued 2,800 finder warrants to Sprott Capital Partners LP. These finder warrants are valid for 3 years from closing with an exercise price of $0.75. The Company also paid a cash commission of $2,800. and issued 7,000 finders units to Research Capital Corporation. The finder units are valid for 3 years from closing and each finder unit is exercisable to purchase one unit (comprised of one common share and one warrant) for $0.40 per unit.

 

All securities issued in connection with the flow through Offering will be subject to a hold period expiring April 2, 2022. The closing of this private placement financing is subject to final TSX-V approval.

 

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.

 

 

Posted December 13, 2021

Share this news article

MORE or "UNCATEGORIZED"


Spanish Mountain Gold Announces Larger Scale Preliminary Economic Assessment With a Base Case NPV5% After-Tax of C$1.0 Billion, 18.2 % IRR and 3.4 Year Payback at US$ 2,450/Oz Gold Price; at US$3,300/Oz Spot Gold Price NPV5% C$2.3 Billion, 32.0% IRR and 2.0 Year Payback; Including an Updated Mineral Resource Estimate for Its Spanish Mountain Gold Project

Spanish Mountain Gold Ltd. (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF)... READ MORE

July 4, 2025

Aura Announces Preliminary Q2 2025 Production Results

Aura Minerals Inc. (TSX: ORA) (B3: AURA33) (OTCQX: ORAAF) is plea... READ MORE

July 4, 2025

Cascadia Announces Closing of Financing

Cascadia Minerals Ltd. (TSX-V:CAM) (OTCQB:CAMNF) is pleased to an... READ MORE

July 4, 2025

Abcourt Closes US$ 8M Loan Facility to Start Sleeping Giant Mine

Abcourt Mines Inc. (TSX-V: ABI) (OTCQB: ABMBF) is pleased to anno... READ MORE

July 4, 2025

Mishkeegogamang First Nation and First Mining Sign Long Term Relationship Agreement for the Development of the Springpole Gold Project

Agreement setting out the significant participation of Mishkeegog... READ MORE

July 4, 2025

Copyright 2025 The Prospector News