Garibaldi Completes $10 Million Financing
Garibaldi Completes $10 Million Financing
TSXV: GGI
OTC: GGIFF
Frankfurt
: RQM
VANCOUVER
,
Oct. 31, 2017
/CNW/ - Garibaldi Resources (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to announce the closing
of its non-brokered private placement for total gross proceeds to the Company of
$10,000,000
(CDN).
Steve Regoci
, President & CEO of Garibaldi, commented: "The discovery of northwest
British Columbia's
first high-grade nickel sulphide system
at Nickel Mountain, strategically positioned in the heart of a producing high-grade gold camp with excellent infrastructure such as Eskay, is a
hugely significant exploration development for the entire Golden Triangle. Visionary investors understand how rare and valuable these type of
discoveries are.
"We eagerly anticipate SGS Canada releasing initial Nickel Mountain assay results in the coming days," Regoci concluded.
Private Placement Details
The Company issued a total of 3,174,603 units at
$3.15
per unit. Each unit 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 included payment by the
Company of advisory and finder's fee commissions on a portion of the placement totaling
$319,499
. The financing is subject to TSX Venture
approval.
Proceeds from the financing will be used primarily to further advance the Company's 100%-owned E&L Nickel Mountain Project and to unlock
the value of the Company's 100%-owned 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/October2017/31/c2791.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 20:31e 31-OCT-17