Mr. Steve Regoci reports
GARIBALDI ARRANGES $10 MILLION FINANCING
Garibaldi Resources Corp. has arranged a non-brokered private placement to raise gross proceeds of up to $10-million. The exclusively hard-dollar financing at $3.15 per unit is being subscribed for by strategic investors and is expected to close shortly.
The company will issue a total of 3,174,604 units. Each common share unit at $3.15 comprises one common share in the capital of the company and one full non-transferable share purchase warrant. Each warrant is exercisable into one common share at a price of $4.50 for a period of two years.
All units from the private placement are subject to a four-month hold period from the date of issuance. The financing will include finder's fee commissions on a portion of the placement and is subject to TSX Venture Exchange approval.
Proceeds from the financing will be used to further advance the company's 100-per-cent-owned E&L Nickel Mountain project, other British Columbia properties, and the company's gold and silver properties in Mexico.
About Garibaldi Resources Corp.
Garibaldi Resources is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.
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