00:56:32 EDT Wed 15 May 2024
Enter Symbol
or Name
USA
CA



GTA Resources and Mining Inc
Symbol GTA
Shares Issued 33,306,855
Close 2016-04-18 C$ 0.05
Market Cap C$ 1,665,343
Recent Sedar Documents

GTA Resources working on FT financing; plans drilling

2016-04-19 09:44 ET - News Release

Mr. Wayne Reid reports

GTA PROVIDES UPDATE ON CORPORATE ACTIVITIES AND WORK PROGRAM

GTA Resources and Mining Inc. has provided a corporate update and an outline of the first phase of its 2016 work program.

On April 11, 2016, GTA announced it would implement a flow-through financing based upon Ontario's recent new prospectus exemptions, making it the first company in Canada to do so. Financing for that prospective financing continues, with GTA using Stockhouse's deal room to access Stockhouse's precleared list of roughly 16,000 accredited investors. GTA's disclosure information at the deal room can be found on the Stockhouse website.

GTA has received national exposure as a result of this innovative financing method, leading to two high-profile invitations.

First, GTA has been invited by the Canadian Saudi Business Council (CSBC) to attend the Saudi Canadian SME Forum in Riyadh, Saudi Arabia. This forum is organized in co-ordination with the Saudi embassy in Ottawa and the Canadian embassy in Riyadh. The majority of the cost of attending the forum is borne by the CSBC.

The CSBC's purpose is to lead Canadian trade delegations to Saudi Arabia, giving Canadian companies access to government officials and business leaders. The council will also assist Saudi investors in accessing Canadian investment opportunities. GTA intends to discuss its possible near-term production theories at its Northshore gold property, located near Thunder Bay, Ont. The maiden National Instrument 43-101 resource estimate on Northshore was filed on SEDAR in July, 2014.

Second, GTA has been invited to attend the fifth annual Cleantech and Technology Metals Summit, to be held in May, 2016, in Toronto. This two-day summit is intended to review the global status of technology metals (lithium, graphite, silicon, platinum, cobalt, vanadium, scandium and rare earths), and the supply and demand issues surrounding them. GTA has been asked to discuss how its innovative finance model works in compliance with Ontario's recent prospectus exemptions (see Multilateral Instrument 45-108, Crowdfunding) and how that model can be adapted for other resource issuers.

In the field, GTA's technical team continues to develop the spring and summer exploration programs, intended to advance both the Northshore property and the Ivanhoe property in Northern Ontario. At Northshore and following closing on the flow-through financing referred to above, GTA intends to carry out definition drilling toward the north area of the property from where a producing gold mine operated in the 1930s. GTA has already identified the Gino vein in that area, which requires further work to better understand its possible near-term production capabilities.

We seek Safe Harbor.

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