21:04:18 EDT Tue 14 May 2024
Enter Symbol
or Name
USA
CA



GTA Resources and Mining Inc
Symbol GTA
Shares Issued 33,306,855
Close 2016-04-11 C$ 0.04
Market Cap C$ 1,332,274
Recent Sedar Documents

GTA financing may include investors on Stockhouse list

2016-04-11 16:21 ET - News Release

Mr. Wayne Reid reports

GTA OPENS THE DEAL ROOM WITH FLOWTHROUGH FINANCING

GTA Resources and Mining Inc. is implementing its relationship with Stockhouse Publishing Ltd. based on Ontario's recent prospectus exemptions. GTA will use Stockhouse's deal room to access Stockhouse's precleared list of roughly 16,000 accredited investors.

Those investors will have the opportunity to participate in GTA's previously announced non-brokered financing of $250,000, for a maximum of five million units. The subscription price per unit is five cents. Each unit will consist of one flow-through common share and one 12-month warrant with an exercise price of six cents. Closing will take place as soon as reasonably possible following regulatory approval. The minimum amount to be raised before GTA can close on any funds is $100,000. GTA has signed an agency agreement with Waverly Corporate Financial Services Ltd. of Toronto, Ont., to perform any related registerable activity as defined by the applicable regulatory bodies.

GTA may also conduct an additional non-brokered financing in an amount up to $300,000 on the same terms, outside of the relationships with Stockhouse or Waverley.

An overview of how the deal room works can be found at Stockhouse's website. Stockhouse is not a registrant in any securities regulatory jurisdiction and will not be performing any registerable activity as defined by the applicable regulatory bodies.

"We have put a lot of effort into being an early mover in Stockhouse's deal room," said Wayne Reid, GTA's chief executive officer. "Stockhouse is one of Canada's premier on-line investor communities that connect active investors and small-cap public companies, making it an ideal innovative partner for us to work with."

GTA will focus on two of its Ontario assets, namely the Ivanhoe project and the Northshore property.

Ivanhoe is located on the eastern extension of the Borden Lake gold zone trend and on an extension of the Porcupine-Destor fault. In 2015, the western extension of the Borden Lake gold zone was part of the purchase by Goldcorp Inc. of Probe Mines Ltd. for $440-million (U.S.). GTA intends to carry out an exploration program, including diamond drilling at Ivanhoe, to test new gold showings and to further its knowledge of the property.

The Northshore property is located east of Thunder Bay and west of Hemlo. GTA has had several successful rounds of exploration at Northshore, resulting in the initial NI 43-101 mineral resource estimate filed at SEDAR on July 2, 2014. GTA intends to carry out a further round of exploration and diamond drilling at Northshore with a view to better defining and expanding the resource.

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