Goldrea Resources Corp. (“Goldrea” or the “Company”) is pleased to announce the closing of its non-brokered private placement of $0.05 units, which has been over-subscribed. The Company sold 8,350,000 units for gross proceeds of $417,500. Each unit consists of one common share in the capital of the Company and one common share purchase warrant which entitles the holder to buy one common share at a price of $0.06 per share for three years.
The proceeds of the private placement will be used to fund the exploration of Company’s mineral properties and for general working capital. All securities issued under the private placement will have a four-month hold, and finder’s fees will be paid.
Goldrea’s President and CEO Jim Elbert commented, “We are pleased the placement generated so much interest, which is a testament to the potential that our properties in the Golden Triangle possess. We are now well-positioned to getting a more comprehensive picture of what lies beneath the surface of Goldrea’s contiguous 3779 hectares, building on the positive geologic work completed in 2020. The Company’s property is neatly sandwiched between Enduro Metals and Seabridge Gold, and we are also encouraged by their promising drill results. The ongoing glacial retreat has exposed a substantial increase in our properties’ explorable land base, to reveal previously unseen geologic trends in the region. We are very optimistic about the drilling campaign that Goldrea has planned for the 2021 season.”
Please visit www.goldrea.com for a comprehensive review of the findings and geologic work done on the Company’s Cannonball Property to date.
For more information, please contact:
James Elbert, President and CEO
Telephone: (604) 559-7230
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.