Galore Announces a Non-Brokered Private Placement
GRI: TSX-V
Mailing Address: 19141 Stone Oak Pkwy #104 | San Antonio, TX, USA | 78258 | Tel: (210) 860 -9212 | Fax: (604) 648-8894
www.galoreresources.com
FOR IMMEDIATE RELEASE May 12, 2020
GALORE ANNOUNCES A NON-BROKERED PRIVATE PLACEMENT
Vancouver, B.C., Galore Resources Inc. (TSX-V: GRI) is pleased to announce t hat it will
begin a non-brokered private placement to rais e gross proceeds of up to CDN $2 00,000 (the
“Offering”). The private p lacement will consist of up to 6,666,668 units at a price of $0.03
per uni t (the “Units”), with each Unit consisting of one common share and one share
purchase warrant (a “Warrant”). Each warrant will be exercisable into one additional
common share at a price of $0.05 per share for a period of five years from the date of closing
of the financing. The Company may pay a finder’s fee in securities of the Company, as
permitted by the policies of the TSX Venture Exchange.
Galore’s management would like to thank all of our stockholders for their patience and
understanding t hrough this difficult glob al environment. Funds raised from this private
placement will be used to continue our work at El Alamo and resume work at Los Gemelos,
as well as for general operating purposes. The private placement shall be subject to
acceptance by the TSX Venture Exchange and all securities issued will be subject to a 4 -
month hold period from the date of issuance.
Investors who wishes t o participate in the Offering are asked to ple ase contact Mike
McMillan, CEO by telephone (210) 860 -9212 (USA) or by email to:
[email protected] in order to re ceive subscription documents and instructions. The
Offering will remain open until June 12, 2020.
Grant of Options
The Company also announces the grant of 1,300,000 to officers o f the Company, exercisable
at a price of $0.10 for a period of 5 years from the date of grant. Such grant of options shall
be subject to ratification by shareholders at the Company’s next annual general meeting to
allow the insider optionees to individually hold options in excess of 5% and collectively hold
options in excess of 10%, of the Company’s current issued share capital.
We thank our many stockholders , and prospective investors, for continued support and we
look forward to directing this Company to the future success we have all awaited.
ON BEHALF OF THE BOARD
“Michael McMillan”
President and CEO
To find out more about Galore Resources (TSX.V:GRI) please contact: Mike McMillan at (210) 860-9212 (USA)
Please visit our website at www.galoreresources.com or contact us at [email protected].
GRI: TSX-V
Mailing Address: 19141 Stone Oak Pkwy #104 | San Antonio, TX, USA | 78258 | Tel: (210) 860 -9212 | Fax: (604) 648-8894
www.galoreresources.com
Cautionary Statement
This document contains “forward-looking statements” within the meaning of applicable Canadian securities
regulations. All statements other than statements of historical fact herein, including, without limitation,
statements regarding exploration plans and other future plans and objectives, are forward -looking
statements that involve various risks and uncertainties. There can be no assurance that such statements will
prove to be accurate and future events and actual results could differ materially from those anticipated in
such statements. Important factors that could cause a ctual results to differ materially from our expectations
as well as a comprehensive list of risk factors are disclosed in the Company’s documents filed from time to
time via SEDAR with the Canadian regulatory agencies to whose policies we are bound. Forward-looking
statements are based on the estimates and opinions of management on the date the statements are made, and
we do not undertake any obligation to update forward -looking statements should conditions or our
estimates change, other than as required b y law and readers are further advised not to place undue reliance
on forward-looking statements.
Neither the 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.