Mr. Christopher Anderson reports
GREAT ATLANTIC PROVIDES CORPORATE UPDATE
Great Atlantic Resources Corp. has closed the first tranche of the non-brokered private placement previously announced on Jan. 13, 2020, for gross proceeds of $210,000. The units of the financing are composed of one common share at a price of 50 cents and a full share purchase warrant, which may be exercised for a period of 18 months at a price of 75 cents per share. The term of the warrants may be accelerated in the event that the issuer's shares trade at or above a price of $1 per share for a period of 10 consecutive days. In such case of accelerated warrants, the issuer may give notice, in writing or by way of news release, to the subscribers that the warrants will expire 30 days from the date of providing such notice. The hold expiry date for this financing is May 28, 2020. The proceeds of the private placement will be used for general working capital and exploration work on the company's properties.
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. Great Atlantic is currently surging forward building the company utilizing a project generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, antimony, tungsten and gold.
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