Le Lézard
Classified in: Mining industry, Business
Subject: FNC

Garibaldi Closes $6 Million Financing

Frankfurt: RQM

VANCOUVER, Oct. 4, 2017 /PRNewswire/ - Garibaldi Resources (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to confirm closing of the final tranche of the Company's recently announced $6 million private placement (see September 26, 2017 news release). 

Gross proceeds from the final tranche total $3,497,120 with hard dollar and flow-through units fully subscribed for by institutional resource funds. 

Steve Regoci, Garibaldi President and CEO, commented:  "We're grateful for the financial vote of confidence by Eric Sprott and institutional funds in the exciting developments at our 100%-owned E&L Nickel Mountain Project near Eskay Creek.  We accelerated the program last month, as stated in our September 1 news release, and aggressive drilling continues.  We look forward to providing investors with a detailed exploration update in the very near future." 

Final Tranche Details

Garibaldi issued 1,216,000 units at $0.82 per unit with each unit consisting of one common share of the Company and one full share purchase warrant exercisable at a price of $1.05 per share for a period of two years. Garibaldi also issued an additional 2,717,391 flow-through units at $0.92 per unit with each unit consisting of one common share of the Company and one half of one share purchase warrant exercisable at a price of $1.05 per share for a period of two years. All units from the private placement, non-flow-through and flow-through, are subject to a 4-month hold period from the date of issuance.  This tranche included a finder's fee totaling $248,552.56, paid to EMD financial Inc.  The $6 million financing is subject to final TSX Venture approval. 

Use of Proceeds

Proceeds from the flow-through portion will be used to advance the E&L Nickel Mountain Project and other Garibaldi properties in the Eskay Camp and elsewhere in British Columbia.  Proceeds from the non-flow-through financing are intended to advance the Company's gold and silver properties in Mexico, and for general working capital purposes. 

About Garibaldi

Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.

We seek safe harbor.


Per: "Steve Regoci"

Steve Regoci, President

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.

SOURCE Garibaldi Resources Corp.

These press releases may also interest you

at 16:33
Potash Ridge Corporation. (the "Company") today announced it has closed a $598,200 non-brokered private placement. Each Unit is priced at $0.06 and is comprised of one common share in the capital of Potash Ridge (a "Common Share") and one-half of...

at 16:33
Brookfield Renewable Partners L.P.   ("Brookfield Renewable") today announced that the Toronto Stock Exchange (the "TSX") accepted a notice filed by Brookfield Renewable Power Preferred Equity Inc. ("BRP Equity") of its intention to renew its normal...

at 16:33
Trading resumes in / Reprise des négociations pour : Company / Société :NEVADO RESOURCES CORPORATION formerly ?NEVADO RESOURCES CORPORATION'TSX-Venture Symbol / Symbole à la Bourse de croissance TSX :VDO.H formerly ?VDO'Resumption Time (ET)...

at 16:30
CO2 Solutions Inc. ("CO2 Solutions" or the "Corporation") today announced that it has issued 200,000 common share purchase warrants of the Corporation (the "June 2018 Warrants") to Cleveland, Ohio-based Cleveland Gas Systems, LLC, dba GasTran...

at 16:26
The quality of Canada's transportation infrastructure and the efficiency of the country's trade corridors are key to the success of Canadian firms in the global marketplace. The Government of Canada supports infrastructure projects that create...

at 16:25
Shareholders of HyperBlock and CryptoGlobal today voted in favour of a proposed acquisition that will create one of North America's largest and most efficient crypto leaders. "Clearly, shareholders support and share...

News published on 4 october 2017 at 22:06 and distributed by: