Great Atlantic Resources Corp. Closes $600,000 Financing
FOCUSED ON EXPLORING ATLANTIC CANADAVANCOUVER, March 31, 2021 - Great Atlantic Resources Corp. (TSXV:GR) (FSE:PH01) (the "Company" or "Great Atlantic") is pleased to announce it has closed its non-brokered private placement previously announced on March 18, 2021. The placement consisted of 1,090,909 flow through units at a price of $0.55 cents per share for gross proceeds of $600,000. 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-half 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 24 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 $40,000. and issued 72,727 finders warrants. The finder warrants are valid for 2 years from closing with an exercise price of $0.55.
All securities issued in connection with the Offering will be subject to a hold period expiring July 30, 2021.
The closing of the private placement financing is subject to final TSX-V approval.
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
Investor Relations
Please call 604-488-3900
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.
Great Atlantic Resource Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4
SOURCE: Great Atlantic Resources Corp.
