Grande Portage Resources Announces Non-Brokered Financing
280 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
GRANDE PORTAGE RESOURCES ANNOUNCES NON-BROKERED FINANCING
VANCOUVER, BC, January 16, 2020 – Grande Portage Resources Ltd. (TSX-V: “GPG”); (OTCQB:
“GPTRF”); (Frankfurt: “GPB”); ("Grande Portage" or "the Company") is pleased to announce that it has
arranged, subject to approval from the TSX Venture Exchange, a non-brokered private placement of up to
9,090,909 units for gross proceeds of up to $ 1,000,000. The private placement offering will be at $0.11 per
unit, and will consist of one common share in the c apital of the Company and one half share purchase
warrant. Each whole warrant will be exercisable at $0.15 to purchase an additional common share for a period
of 18 months following the closing date. All subscriptions for units are anticipated to be comple ted and
accepted by the Company on or before January 31, 2020.
It is anticipated that insiders of the Company will be participating in the private placement for $ 140,000
(~1,272,727 Units). The net proceeds of the offering will be used to advance explor ation activities at the
Company's Herbert Gold property, located in southeast Alaska, as well as for general working capital.
Finders' fees may be paid on the offering pursuant to the policies of the TSX -Venture Exchange . The
Company wishes to confirm that it is fully disclosed and not aware of any undisclosed material events.
All securities issued will be subject to a four -month hold period which will expire on the date that is four
months and one day from the date of issue.
In addition, the Company wis hes to announce that it has retained the services of Peak Investor Marketing
Corp. (“Peak”) a full service marketing and consulting services focused on the junior mining sector. Peak is
an independent arms length entity and will assist Grande Portage with marketing strategy and planning,
corporate communications and public relations, with the goal of increasing market awareness of the
company. Under the terms of the Agreement, the Company will compensate Peak $12,000 per month for the
12-month term of the Agreement. The Company will also issue Peak, subject to TSX -V approval, 500,000
options at a grant price of $0.15.
About Grande Portage:
Grande Portage Resources Ltd. is a publicly traded mineral exploration company 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 system is open to length and depth and is host to at least
six main composite vein -fault structures that contain ribb on structure quartz -sulfide veins. The project lies
prominently within the 160km long Juneau Gold Belt, which has produced nearly seven million ounces of
gold. The Company’s recent Mineral Resource estimate is quoted at a base case mineral resources cut -off
grade of 2.50 grams per tonne gold (g/t Au) and consists of: An indicated resource of 606,500 ounces of gold
at an average grade of 10.03 g/t Au (1,880,500 tonnes); and An inferred resource of 251,700 ounces of gold
at an average grade of 14.15 g/t Au (553,429 tonnes).
280 - 1090 West Georgia Street
Vancouver, British Columbia. V6E 3V7
- 2 -
ON BEHALF OF THE BOARD
“Ian Klassen”
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 899-0106
Email: [email protected]
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