Great Atlantic receives Tsx-V approval for property and asset acquisitions
(via Thenewswire.ca)
VANCOUVER, British Columbia - November 30, 2012 - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) is pleased to announce the following;
Asset Purchase
Further to its November 15, 2012 news release, the Company received TSX-V approval for an agreement to acquire various assets comprising drilling and business equipment from a publicly traded company and its wholly owned subsidiary by way of an asset purchase and option agreement. Within the package the company acquired two pick-up trucks and an ATV, as well as trailers and several other pieces of equipment that will be utilized in the field such as pumps, generators and various pieces of geological field equipment.
Pursuant to the agreement, Great Atlantic purchased equipment for a purchase price of $80,000 paid by the issuance of 800,000 shares at a deemed price of $0.10 per share. As part of the agreement, the Company also purchased a drill for the price of $80,000 which was paid partly in cash totalling $30,000 plus the issuance of 500,000 shares at a deemed price of $0.10 per share. Both share issuances are restricted from sale until March 21, 2012.
West Gore Antimony Property
Further to its September 11, 2012 news release, the Company received TSX-V approval for an option agreement between Elk Exploration Ltd. whereby the Company will acquire a 100% interest in the West Gore Antimony property located near Halifax, NS. Under the terms of the agreement, the Company, as operator, can acquire the property by making cash option payments of $75,000 over three years and issue 60,000 shares (issued). The issued share are restricted from sale until March 22, 2012.
About Great Atlantic Resources Corp:
Great Atlantic Resources Corp. is a Canadian exploration company focused on the discovery and development of mineral deposits in Atlantic Canada which is a sovereign risk free domain. Recently New Brunswick was announced as the number one mining region in the world. Great Atlantic has assembled the A-team of explorers in the region with decades of experience and known track records for discoveries. Currently the company is propelling forward under a project generation model with a focus on Antimony, Tungsten and Gold.
On Behalf of the board of directors
"Chris Anderson"
Christopher R Anderson,
CEO - President 604 488-3900
Read about Great Atlantic Resources Corp.: http://greatatlanticresources.com/corporate-overview/
Read Disclaimer: http://greatatlanticresources.com/legal-disclaimer/
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