Southstone Minerals Ltd. press release
Garibaldi Financing Revised
TSXV - TSX Venture Exchange · Diamond · Uranium · Canada
Canada NewsWire
VANCOUVER, Sept. 26, 2017
TSXV: GGI OTC: GGIFF Frankfurt: RQM
VANCOUVER, Sept. 26, 2017/CNW/ - Garibaldi Resources (TSX.V: GGI) (the "Company" or "Garibaldi") reports that further to the Company's September 1, 2017, news release announcing the arrangement of a non-brokered private placement to raise total gross proceeds of $6,000,000(CDN), the TSX Venture Exchange has informed the Company that the fully subscribed financing is subject to re-pricing on the basis that the news release was deemed a material change.
Private Placement Details
The TSX Venture has accepted the revised pricing for the amended financing. Garibaldi will issue 2,622,500 non-flow-through units at 82 centsper share (gross proceeds of $2,150,450) and 4,184,000 flow-through units at 92 centsper share (gross proceeds of $3,849,280). The non-flow-through unit includes a full warrant exercisable at $1.05for two years. The flow-through unit includes a half warrant exercisable at $1.05for two years.
All units from the private placement are subject to a 4-month hold period from the date of issuance.
The financing will include finder's fee commissions and is subject to final TSX Venture approval. All proceeds from the flow-through portion will be used to advance the E&L Nickel Mountain Project and other Garibaldi properties in the Eskay Camp and elsewhere in British Columbia. Proceeds from the non-flow-through financing are intended to advance the Company's gold and silver properties in Mexico, and for general working corporate purposes.
Options Granted
The company has granted at total of 200,000 incentive stock options exercisable for up to five years at a price of $1.50per share pursuant to its stock option plan. The stock option grant is subject to applicable regulatory hold periods and approval of the TSX Venture Exchange.
About Garibaldi
Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexicoand British Columbia.
We seek safe harbor.
GARIBALDI RESOURCES CORP.
Per: "Steve Regoci"
Steve Regoci, President
NeithertheTSXVentureExchangenoritsRegulationServicesProvideracceptsresponsibilityfortheadequacyortheaccuracyofthisrelease.
SOURCE Garibaldi Resources Corp.
View original content: http://www.newswire.ca/en/releases/archive/September2017/26/c4627.html
GARIBALDI RESOURCES CORP., 1150 - 409 Granville Street, Vancouver, BC, V6C 1T2, Telephone: (604) 488-8851, Website: GaribaldiResources.comCopyright CNW Group 2017