GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) is pleased to announce that it has received conditional approval for a non-brokered private placement of 7,500,000 units at a price of two cents ($0.02) per unit for gross proceeds of $150,000. Each unit will comprise of one common share and one share purchase warrant which may be exercised for a period of 24 months at a price of $0.05 per share in the first year with a forced conversion if the Issuer’s shares trade over $0.07 for 10 consecutive days and at a price of $0.10 per share in the second year with a forced conversion if the Issuer’s shares trade over $0.14 for 10 consecutive days. Closing of this placement is conditional upon approval of the TSX Venture Exchange.
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 in 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.
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We acknowledge the [financial] support of the Government of Canada.