Focused ON Exploring Atlantic Canada Tsx.v: GR Fra: PH02 Great Atlantic Resources Updates Terms of Private Placement
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FOCUSED ON EXPLORING ATLANTIC CANADA TSX.v: GR
FRA: PH02
GREAT ATLANTIC RESOURCES
UPDATES TERMS OF PRIVATE PLACEMENT
VANCOUVER, British Columbia – August 9, 2024 - GREAT ATLANTIC RESOURCES
CORP. (TSXV.GR) (the “Company” or “Great Atlantic”) , would like to clarify the terms of
its previously announced non-brokered private placement on July 3, 2024. The placement will be
up to 1,500,000 flow through units at a price of $0.0 5 per share for gross proceeds of $ 75,000.
Each Flow-Through unit consists of one common share that qualifies as a “flow-through share” as
defined in subsection 66(15) of the Income Tax Act and one share purchase warrant (previously
announced as one -half warrant .) Each whole warrant will entitle the holder to purchase one
additional non-flow through common share at the price of $0.08 for 60 months after closing.
The net proceeds from the Offering will be used for exploration expenses on the Company’s
mineral properties in Atlantic Canada.
A finder's fee may be paid to eligible finders in accordance with the TSX Venture Exchange
policies. All securities issued pursuant to the offering will be subject to a hold period of four
months and one day from the date of closing. The offering and payme nt of finders' fees are both
subject to approval by the TSX-V.
The flow through shares will qualify as flow -through shares (within the meaning of Subsection
66(15) of the Income Tax Act (Canada)). An amount equal to the gross proceeds from the issuance
of the flow through shares will be used to incur eligible resource exploration expenses which will
qualify as (i) Canadian exploration expenses (as defined in the Tax Act), and (ii) as flow -through
critical mineral mining expenditures (as defined in Subsection 127(9) of the Tax Act).
On Behalf of the board of directors
“Christopher R Anderson”
Mr. Christopher R. Anderson
President CEO Director
604-488-3900 – Office
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Investor Relations: 1-416-628-1560 IR @ GreatAtlanticResources.com
About Great Atlantic Resources Corp.: Great Atlantic Resources Corp. is a Canadian exploration company focused
on the discovery and development of mineral assets in the resource -rich and sovereign risk -free realm of Atlantic
Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the
company utilizing a Project Generation model, with a special f ocus on the most critical elements on the planet that
are prominent in Atlantic Canada, Gold, Copper, Zinc, Nickel, Cobalt, Antimony and Tungsten.
This press release includes certain statements that may be deemed “forward -looking statements”. All statements in
this release, other than statements of historical facts, that address future exploration drilling, exploration activities and
events or developments that the Company expects, are forward looking statements. Although the Company believes
the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and a ctual results or developments may differ materially from those in
forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking
statements include exploitation and exploration successes, continued availability of financing, and general economic,
market or business conditions.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Great Atlantic Resource Corp.
888 Dunsmuir Street - Suite 888, Vancouver, B.C., V6C 3K4