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FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR
Great Atlantic Resources Closes First Tranche of Financing
FOCUSED ON EXPLORING ATLANTIC CANADA
VANCOUVER, British Columbia-May 29, 2020 - GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the "Company" or "Great Atlantic")
--->is pleased to announce it has closed the first tranche of its non-brokered private placement previously announced on May
---> 25, 2020. The placement consisted of 476,191 flow through shares at a price of $0.42 per share for gross proceeds of $2
--->00,000. Each Flow-Through share consists of one common share that qualifies as a "flow-through share" as defined in sub
--->section 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. The Company paid a cash commission of $16,000. and issued 38,095 finders warrants to Qwest Investment Fund Mana
--->gement Ltd. The finder warrants are valid for 2 years from closing with an exercise price of $0.42.
All securities issued in connection with the Offering will be subject to a hold period expiring September 27, 2020
On Behalf of the board of directors
"Christopher R Anderson"
Mr. Christopher R. Anderson "Always be positive, strive for solutions, and never give up"
President CEO Director
604-488-3900 - Dir
Please call 604-488-3900
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused on the di
--->scovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of
--->the number one 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 Atlant
--->ic Canada, Antimony, Tungsten and Gold.
This press release includes certain statements that may be deemed "forward-looking statements". All statements in this r
--->elease, other than statements of historical facts, that address future exploration drilling, exploration activities and
--->events or developments that the Company expects, are forward looking statements. Although the Company believes the expec
--->tations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaran
--->tees of future performance and actual results or developments may differ materially from those in forward-looking statem
--->ents. Factors that could cause actual results to differ materially from those in forward-looking statements include expl
--->oitation and exploration successes, continued availability of financing, and general economic, market or business condit
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Ve
--->nture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Great Atlantic Resource Corp
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4
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