Grande Portage Announces Closing of Second Tranche and Completion of Non-Brokered Financing Totaling $437,500
#501, 595 Howe Street, Vancouver, BC, V6C 2T5
Ph: (604) 899-0106
GRANDE PORTAGE ANNOUNCES CLOSING OF SECOND
TRANCHE AND COMPLETION OF NON-BROKERED
FINANCING TOTALING $437,500
VANCOUVER, BC, August 22, 2017 – Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage"
or “the Company”) is pleased to announce that it has closed the second and final tranche of a non-brokered
private placement (the “Offering”) first announced on July 28th, 2017 consisting of 700,000 Units at a price of
$0.15 per share and will consist of one common share in the capital of the Company and one -half share
purchase warrant for gross proceeds of $105,000.
In connection with the second tranche of the Offering, the Company has agreed to pay finder’s fees of $6,000
cash and 40,000 warrants priced at $0.25 per share exercisable for a period of eighteen (18) months. The
common shares issued pursuant to this private placement are subject to a four month hold period. The second
tranche of the Offering and payment of the finder’s fees have been accepted by the TSX Venture Exchange.
In aggregate, the Company has issued 2,916,667 common shares at a price of $0.15 per share under the
Offering, for gross proceeds of $437,500, paid $23,400 in finders’ fees and issued 156,000 broker warrants. Due
to demand from investors the Offering was increased from $350,000 to $437,500.
The net proceeds of the Offering will be used to advance exploration activities at the Company's Herbert Gold
property, where it is currently drilling as well as for general working capital.
About Grande Portage Resources Ltd.
Grande Portage Resources Ltd. is a Tier 2 publicly traded mineral exploration company principally focused on
the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a
100% interest in the Herbert property. The Herbert Gold property has a NI 43-101 technical report completed
with indicated resources of 821,100 tonnes containing 182,400 oz of gold at 6.91 g/t. Inferred resources of
51,600 tonnes containing 12,800 oz of gold at 7.73 g/t. The system is open to length and depth and is host to
at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The project
lies prominently within the 160km long Juneau Gold Belt, which has produced nearly seven million ounces of
gold.
ON BEHALF OF THE BOARD OF DIRECTORS
“Ian Klassen”
________________________________________
Ian Klassen, President
For further information please contact:
Mr. Ian Klassen
Phone: (604) 899-0106
#501, 595 Howe Street, Vancouver, BC, V6C 2T5
Ph: (604) 899-0106
- 2 -
Email: [email protected]
Website: www.grandeportage.com
Statements about the Company’s future expectations and all other statements in this press release other than
historical facts are “forward looking statements”. Such forward-looking statements are based on numerous
assumptions, and involve known and unknown risks, uncertainties and other factors, including risks inherent
in mineral exploration and development, which may cause the actual results, performance, or achievements of
the Company to be materially different from any project ed future results, performance, or achievements
expressed or implied by such forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS
THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE