GOLDCLFF CLOSES THIRD TRANCHE OF PRIVATE PLACEMENT AND EXTENDS FINAL CLOSING George W. Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”)
#400 – 789 W. Pender St. Vancouver, B.C. V6C 1H2 Phone: 250-764-8879 www.goldcliff.com Toll Free: 866-769-4802 GCN.TSXV www.directroyalty.com [email protected]
September 19 ,2016
GOLDCLFF CLOSES THIRD TRANCHE OF PRIVATE PLACEMENT AND EXTENDS FINAL CLOSING
George W. Sanders, President of Goldcliff Resource Corporation (“Goldcliff” or the “Company”) announces that the Company has completed a third tranche closing of its previously announced non-brokered private placement (“Private Placement”) (see Goldcliff News Release dated August 8, 2016).
At the closing of the third tranche on September 16, 2016, the Company issued 446,862 units for gross proceeds of $84,903.78. Each unit consists of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of $0.25 per share for a period of two years from the date of closing. The Company paid finder’s fees totalling $1,482 in cash and issued 7,800 finder’s warrants in connection with the Private Placement. Each finder’s warrant entitles the holder to purchase one common share at a price of $0.25 per share for a period of two years from the date of closing. All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
Goldcliff has now closed three tranches for 5,246,862 units for gross proceeds of $996,903.78. In order to accommodate market interest in the Private Placement, the Company has obtained TSX Venture Exchange approval to increase the offering to up to 5,600,000 units and extend the Private Placement to a closing date of October 21, 2016.
Net proceeds of the Private Placement will be used towards the Company’s acquisition costs relating to the Pine Grove Project, development of the Pine Grove Project and general working capital purposes.
For further information, please contact George W. Sanders, President, at 250-764-8879, toll free at 1-866-769-4802 or email at [email protected].
GOLDCLIFF RESOURCE CORPORATION Per: “George W. Sanders”
George W. Sanders, President
Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or the accuracy of this news release.
Statements regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Except as required by law, the Company does not intend to update any changes to such statements.