Great Atlantic Announces Closing of Private Placement
FOCUSED ON EXPLORING ATLANTIC CANADA
VANCOUVER, British Columbia – October 23, 2018 – GREAT ATLANTIC RESOURCES CORP. (TSX.v: GR) (the “Company” or “Great Atlantic”) is pleased to announce that is has closed the non-brokered private placement previously announced on October 3, 2018 for gross proceeds of $386,400. The units of the financing are comprised of one common share at a price of $0.07 and a full share purchase warrant, which may be exercised for a period of two years at a price of 10 cents per share. The hold expiry date for this financing is February 20, 2019. The Company paid a cash commission of $7,000.00 and 100,000 broker warrants to Leede Jones Gable Inc. The broker warrants have the same terms as the private placement warrants. The proceeds of the private placement will be used for general working capital and exploration work on the Company’s properties.
The Company also announces it has granted 1 million options at an exercise price of $0.07 cents. The options are exercisable for five years and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the Company. The options are subject to regulatory approval.
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
Kaye Wynn Consulting Inc.: 604-558-2630, Toll Free: 888-280-8128
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. 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 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 Atlantic Canada, Antimony, Tungsten and Gold.
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, 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 expectations expressed in such forward-looking statements are
based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture 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