VANCOUVER, British Columbia – October 31, 2019 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) The Company is pleased to announce that it has arranged a non-brokered private placement of 421,053 flow through shares at a price of $0.475 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 Mr. 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 Mr. 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.
On Behalf of the board of directors
Mr. Christopher R. Anderson
“Always be positive, strive for solutions, and never give up”
President CEO Director
604-488-3900 – Dir
Investor Relations: Please call 604-488-3900
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.