Great Atlantic Resources Corp (TSX-V:GR) said that due to positive investor response it has increased its previously announced non-brokered private placement to 8,165,000 units, at a price of C$0.10 per unit, for gross proceeds of C$816,500.
The company said proceeds of the private placement would be used for general working capital and exploration work.
Units of the financing will comprise one share and a full share purchase warrant, which may be exercised for a period of five years at a price of C$0.12 per share.
READ: Great Atlantic Resources starts 2022 prospecting and rock geochemical sampling program at Golden Promise gold property
A finder’s fee may be paid in accordance with TSX Venture Exchange policies.
The company said it was submitting documentation with the TSX-V to close the placement.
Great Atlantic Resources 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, which it says is one of the top mining regions of the world.
Contact the author Emily Jarvie at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie