Mr. Christopher Anderson reports
GREAT ATLANTIC RESOURCES ANNOUNCES FINANCING
Great Atlantic Resources Corp. has arranged a non-brokered private placement of 421,053 flow-through shares at a price of 47.5 cents per share for gross proceeds of $200,000. Each flow-through share consists of one common share that qualifies as a flow-through share as defined in Subsection 66(15) of the Income Tax Act.
The net proceeds from the offering will be used for exploration expenses on the company's mineral properties in Atlantic Canada.
A finder's fee may be paid to eligible finders in accordance to the TSX Venture Exchange policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offering and payment of finders' fees are both subject to approval by the TSX-V.
The company also announces the appointment of Scott Kent as a director. Mr. Kent brings to the team over 20 years of experience in various sectors including mining and manufacturing. Mr. Kent currently sits on the board of several publicly traded companies. The company also announces that Quinn Field-Dyte has stepped down as a director. The company would like to thank Mr. Field-Dyte for his time and efforts and wish him well in his future endeavours.
About Great Atlantic Resources Corp.
Great Atlantic Resources is a Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the No. 1 mining regions of the world.
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