Grande Portage Announces Increase and Closing of Non Brokered Financing
#501, 595 Howe Street, Vancouver, BC, V6C 2T5
Ph: (604) 899-0106
GRANDE PORTAGE ANNOUNCES INCREASE AND CLOSING OF
NON BROKERED FINANCING
VANCOUVER, BC, June 23, 2017 – Grande Portage Resources Ltd. (TSX-V GPG) ("Grande Portage" or
“the Company”) is pleased to announce that it has closed its previously announced non -brokered private
placement financing.
The Company raised gross proceeds of $ 190,000 through the sale of 1,266,666 Units. Each Unit consists of
one common share in the capital of the Company (each a "Common Share") and one-half (1/2) common share
purchase warrant (a "Warrant"). Each whole Warrant will be exercisable at $0.25 to purchase an additional
common share (each a "Warrant Share") for a period of 18 months following the Closing Date. The Company
will issue 633,333 whole common share purchase warrants as part of the Units.
The Company wishes to confirm that Insiders subscribed for 166,666 Units of the financing.
The Warrant will also include an acceleration clause whereby if the trading price of the Issuer's shares on the
TSX Venture Exchange for 10 consecutive trading days (the "Premium Trading Days") exceeds $0.50 per share
during the exercise period the expiry time of the warrants shall be accelerated, at the option of the Company,
such that the expiry time will be 30 calendar days. This 30 -day period will commence seven (7) calendar days
after the tenth Premium Trading Day.
The Company paid a total of $12,000 in finder's fees and has issued 80,000 broker warrants associated with the
closing. Proceeds from the Offering will be used to adv ance exploration activities at the Company’s Herbert
Gold property located in S.E. Alaska 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
#501, 595 Howe Street, Vancouver, BC, V6C 2T5
Ph: (604) 899-0106
- 2 -
Phone: (604) 899-0106
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