Goldrea Closes Non-Brokered Private Placement of Convertible Debentures
Goldrea Closes Non-Brokered Private Placement
of Convertible Debentures
November 3, 2022 - Vancouver, British Columbia
Goldrea Resources Corp. (CSE:GOR, Frankfurt:GOJ, OTC:GORAF)(“Goldrea” or the “Company”) has
closed its non-brokered private placement of secured convertible debentures (the “Debentures”) with an
aggregate principal amount of $50,000.
The Debentures mature on the second anniversary of their issuance date. Interest will accrue on the
Debentures’ outstanding principal at the rate of 1 0% per annum and will be payable every three months.
The holders of the Debentures have the right at any time to convert the outstanding debt, in whole or in
part, into common shares of the Company (a “Share”) at $0.025 per Share. In addition, the holders of the
Debentures have been issued, as a loan bonus, 1,000,000 common share purchase warrant s (each a
“Warrant”) in aggregate, with each Warrant entitling its holder to purchase one Share at $0. 05 during the
two years following the warrant’s issuance.
The proceeds from the Debentures will be used by the Company to conduct exploration programs on its
mineral properties and for general working capital. All securities issued under the private placement will
be subject to a four-month hold and other resale restrictions under applicable securities legislation.
For more information, please contact:
James Elbert, President and CEO
Telephone: (604) 559-7230
Email: [email protected]
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain “forward-
looking statements”, which are statements about the future based on current expectations or beliefs. For this purpose, statem ents of historical fact
may be deemed to be forward-looking statements. Forward-looking statements by their nature involve risks and uncertainties, and there can be no
assurance that such statements will prove to be accurate or true. Investors should not place undue reliance on forward -looking statements. The
Company does not undertake any obligation to update forward-looking statements except as required by law.