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Goldrea Resources Corp (2)
Symbol C : GOR
Shares Issued 33,327,108
Close 2018-12-04 C$ 0.045
Recent Sedar Documents

Goldrea Resources awaits licensing of Irving facility

2018-12-06 11:57 ET - News Release

Mr. Jim Elbert reports

GOLDREA PROVIDES PROGRESS UPDATE

Goldrea Resources Corp. has provided an update to shareholders on its progress on the building of a cannabis testing laboratory in California.

An essential hurdle was overcome when the company secured a location for the facility in Irving, Calif., an area where warehousing space is tight. The company has leased a property and is awaiting licensing of the facility for testing purposes. This is expected to take approximately 45 days, in which time there will be further preparations to outfit the premises with the many diagnostic machines needed for the business. Engaging producing clients is also a continuing exercise in order to commence operations immediately upon meeting all regulations. Because of the shortage of testing facilities in the area, Goldrea anticipates a positive response from cannabis producers once the lab is up and running.

President and chief executive officer Jim Elbert states: "Goldrea is fortunate to have begun the process to the attaining of a lab facility in Irving, Calif. The market is underserved in this prolific area and our business plan spells out how we can best address the need that the industry is experiencing."

Goldrea is also in talks with other players in the field, including relationships that have developed over the last year. With the many opportunities in the industry, the company continues to explore opportunities that would prove to be beneficial to the shareholder. A private placement is now in progress for the purpose of raising general working funds and advancing the company's holdings. A further raise is planned in the near future as expenditures will be necessary to complete the California project.

In addition, Goldrea continues to keep its mining interests up to date and financed, in particular, the Cannonball gold property in the Golden Triangle, British Columbia, and the Lift lithium property in the Clayton Valley, Nevada.

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