Great Atlantic Resources Corp. Issues Shares for Debt
Vancouver, British Columbia--(Newsfile Corp. - June 9, 2015) - Great Atlantic Resources Corp. (TSXV: GR) (the "Company" or " Great Atlantic") is pleased to announce that it is proceeding with a shares-for-debt filing to pay outstanding debts of $58,048.45. Approximately 773,980 shares in the capital stock of the Company will be issued to pay these outstanding payables. The shares-for-debt agreement is subject to TSX Venture Exchange approval.
The Company also announces that it has closed the first tranche of its private placement which was previously announced on May 4, 2015. The first tranche consists of 1,815,00 units, and October 5, 2015, is the hold period expiry date in respect of the shares comprising the units and the shares issued upon exercise of the shares purchase warrants.
On Behalf of the board of directors
"Lorne Mann"
Lorne Mann
Director 604 488-3900
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.
