Goldrea Resources Corp. (“Goldrea” or the “Company”) announces the closing of the first tranche of its non-brokered private placement of $0.06 flow-through units (“Units”), subject to acceptance by regulatory authorities. The Company has sold 4,805,000 Units for gross proceeds of $288,300. Each Unit consists of one flow-through common share in the capital of the Company and half of a common share purchase warrant which entitles the holder to buy one common share at a price of $0.08 per share for two years. The Company’s Insiders have purchased 500,000 Units.
The proceeds of the private placement will be used to fund the exploration of Company’s mineral properties. All securities issued under the private placement will have a four-month hold. Finder’s fees will be paid on this private placement.
Jim Elbert, CEO states, “Goldrea has started implementing this summer’s exploration program on our promising Cannonball/Adrian Property in the heart of the Golden Triangle. This flow-through financing is earmarked entirely for the Golden Triangle. Our drillers are scheduled to follow up the IP crew as they further define our most attractive targets. We anticipate finishing up this $600,000 flow-through with a second tranche shortly and have high expectations for this season’s results.”
For more information, please contact:
James Elbert, President and CEO
Telephone: (604) 559-7230
Email: jelbert@goldrea.com
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain “forward-looking statements”, which are statements about the future based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward-looking statements. The Company does not undertake any obligation to update forward-looking statements except as required by law.