Great Atlantic Resources Corp. Update __________________________________________________________________________________ A PROJECT GENERATOR - FOCUSED ON ANTIMONY, TUNGSTEN AND GOLD
VANCOUVER, British Columbia – October 24, 2014 – GREAT ATLANTIC RESOURCES CORP.
(TSXV.GR) is pleased to announce an update of a non-brokered private placement announced July 31, 2014 and August 25, 2014 for 1,765,000 units at a price of $0.17 per unit. Each unit will comprise of one common share and one flow-through share purchase warrant which may be exercised for a period of five years at a price of $0.20 per share. The Company has now submitted final documentation for the third and final tranche of this financing to the TSX Venture Exchange for final approval which consists of 450,000 units. Total units subscribed from all three tranches is 1,460,000 for gross proceeds of $248,200. The shares are subject to a four month hold period expiring four months after the closing dates.
The Company further announces the following which briefly describes the matters voted upon and the outcome of the votes at the annual and special meeting of the shareholders of Great Atlantic Resources Corp. (the "Company") held on September 30 in Toronto, Ontario:
Item 1: Appointment of Auditors
Watson Dauphinee & Masuch LLP, Chartered Accountants were appointed as the auditors of the Company by way of an ordinary resolution.
Item 2: Election of Directors
The t hr ee nominees set forth in the management information circular of the Company dated Augsut 26, 2014 (the "Circular") were elected as directors of the Company by way of an ordinary resolution:
Chris Anderson, Lorne Mann and Patrick Forseille.
Item 3: Approval of Incentive Share Option and Bonus Share Plan An ordinary resolution was passed approving the Company’s amended and restated 10% rolling Stock Option Plan, as more particularly described in the Circular.
Great Atlantic Resources Corp:
On Behalf of the board of directors
604 488-3900
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 actual 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.