Greatbanks Resources Announces Closing of Private Placement Financing
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GREATBANKS RESOURCES ANNOUNCES CLOSING OF
PRIVATE PLACEMENT FINANCING
FOR IMMEDIATE RELEASE
TORONTO, ONTARIO, March 22, 2017 - Greatbanks Resources Ltd. (TSXV: GTB),
("Greatbanks" or the " Company") is pleased to announce that today it has closed a non-
brokered private placem ent offering (the "Off ering") for aggregate gross proceeds of
$1,720,710.00
The Company issued an aggregate of 31,285,637 Units at a price of $0.055 per Unit. Each Unit
consisted of one commo n share in the capital o f the Company ("Comm on Share") and one
common share purchase warrant (the "Warrants") . Each Warrant entitles t he holder thereof to
acquire one Common Share at a price of $0.08 until March 22, 2019.
The Company paid Find er's fees of $41,184.00 a nd issued 748,800 Finde r fee warrants on the
same terms as the Warrants.
All securities issued purs uant to the Offering, inc luding the Common Sha res and the Warrants
comprising the Units and the Common Shares, are subject to a four month plus one day statutory
hold commencing from C losing Date of the Offer ing. The Offering is subj ect to TSX Venture
Exchange (the "TSXV") final acceptance upon filing final materials w ith the TSXV. The
Company intends to us e the gross proceeds of the Offering for strate gic projects, general
corporate and working capital purposes.
About Greatbanks Resources Ltd.
Greatbanks is a resource based exploration company based in Toronto, Canada. The Company is
focused on identifying assets that meet the followi ng criteria, producing, near term enhancement
and exploration opportun ities. Investments may b e by way of acquisition, participation and/or
fractional interest.
Issued on behalf of the Board of Directors of Greatbanks Resources Ltd.
Andrew Male
President and Chief Executive Officer
Tel: 604-561-0840
Email: [email protected]
Neither the TSX Ve nture Exchange nor its Regulation Serv ices Provider accept s responsibility for t he adequacy or
accuracy of this release.
Disclaimer
Certain statements contained in this news release may contain forward-looking information within the meaning of
Canadian securities laws. Such forward-looking information is identified by word s such as "estimates", "intends",
"expects", "believes", "may", "will" and include, without limitation, statements regarding the Company's plan of
business operations, estimates regarding mineral resources, projections regarding mineralization and projected
expenditures. There can be no assurance that such statements will prove to be accurate; actual results and future
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events could differ materially from such statements. Factors that could cause actual results to differ materially
include, among others, metal prices, risks inherent in the mining industry, financing risks, labour risks, uncertainty
of mineral resource estimates, equipment and supply risks, title disputes, regulatory risks and environmental
concerns. Most of these factors are outside the control of the company. Investors are cautioned not to put undue
reliance on forward-looking information. Except as otherwise required by applicable securities statutes or
regulation, the company expressly disclaims any intent or obligation to update publicly forward-looking
information, whether as a result of new information, future events or otherwise.