Garibaldi Arranges $10 Million Financing
Garibaldi Arranges $10 Million Financing
TSXV: GGI
OTC: GGIFF
Frankfurt
: RQM
VANCOUVER
,
Oct. 16, 2017
/CNW/ - Garibaldi Resources (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to announce a non-brokered private placement
to raise gross proceeds of up to
$10,000,000
(CDN). The exclusively hard dollar financing at
$3.15
per unit is being subscribed for by strategic investors and is
expected to close shortly.
The Company will issue a total of 3,174,604 units. Each common share unit at
$3.15
comprises one common share in the capital of the Company and one full
non-transferable share purchase warrant. Each warrant is exercisable into one common share at a price of
$4.50
for a period of two years.
All units from the private placement are subject to a four-month hold period from the date of issuance. The financing will include finder's fee commissions on a
portion of the placement and is subject to TSX Venture approval.
Proceeds from the financing will be used to further advance the Company's 100%-owned E&L Nickel Mountain Project, other
British Columbia
properties, and the
Company's gold and silver properties in Mexico.
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.
GARIBALDI RESOURCES CORP.
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.
View original content: http://www.newswire.ca/en/releases/archive/October2017/16/c7005.html
%SEDAR: 00004262E
For further information:
GARIBALDI RESOURCES CORP., 1150 - 409 Granville Street Vancouver, BC V6C 1T2, Telephone: (604) 488-8851, Website:
GaribaldiResources.com
CO: Garibaldi Resources Corp.
CNW 20:57e 16-OCT-17