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Great Atlantic Resources Corp (2)
Symbol GR
Shares Issued 4,458,692
Close 2014-10-23 C$ 0.17
Market Cap C$ 757,978
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Great Atlantic raises $248,200 from financing tranches

2014-10-24 17:06 ET - News Release

An anonymous director reports

GREAT ATLANTIC RESOURCES CORP. UPDATE

Great Atlantic Resources Corp. has provided an update of a non-brokered private placement announced July 31, 2014, and Aug. 25, 2014, for 1,765,000 units at a price of 17 cents per unit. Each unit will comprise one common share and one flow-through share purchase warrant, which may be exercised for a period of five years at a price of 20 cents per share. The company has now submitted final documentation for the third and final tranche of this financing to the TSX Venture Exchange for final approval, which consists of 450,000 units. Total units subscribed from all three tranches are 1.46 million for gross proceeds of $248,200. The shares are subject to a four-month hold period expiring four months after the closing dates.

The company further announces the following, which briefly describes the matters voted upon and the outcome of the votes at the annual and special meeting of the shareholders of Great Atlantic Resources, held on Sept. 30 in Toronto, Ont.:

Item 1: appointment of auditor

Watson Dauphinee & Masuch LLP, chartered accountants, was appointed as the auditor of the company by way of an ordinary resolution.

Item 2: election of directors

The three nominees set forth in the management information circular of the company dated Aug. 26, 2014, were elected as directors of the company by way of an ordinary resolution: Chris Anderson, Lorne Mann and Patrick Forseille.

Item 3: approval of incentive share option and bonus share plan

An ordinary resolution was passed approving the company's amended and restated 10-per-cent rolling stock option plan, as more particularly described in the circular.

We seek Safe Harbor.

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