GSP Resource Corp. Closes Oversubscribed Flow-Through Units Private Placement
Not for distribution to United States Newswire Services or for dissemination in the United States
GSP Resource Corp. Closes Oversubscribed Flow-Through Units Private
Placement
News Release - Vancouver, British Columbia – November 1, 2024: GSP Resource Corp. (TSX -V:
GSPR) (the “ Company” or “GSP”) announces that, further to its October 24, 2024 news release, the
Company has closed its oversubscribed non-brokered private placement of 2,100,000 units (“Units”) at
a price of $0.14 per Unit for aggregate gross proceeds of $294,000 (the “Private Placement”). Each
Unit consists of one common share to be issued as a “flow -through share” within the meaning of the
Income Tax Act (Canada) (the “ITA”) (a “FT Share”) and one-half of one transferable common share
purchase warrant (each whole warrant, a “Warrant”). Each whole Warrant entitles the holder thereof to
purchase one common share of the Company (each , a “Warrant Share”) for each Warrant Share at a
price of $0.21 until November 1, 2026.
The Company intends to use the proceeds from the sale of the FT Shares towards exploration work on
the Alwin Mine Copper -Silver-Gold Project (the “ Alwin Project ”) and intends that such expenses
incurred will be eligible for the Critical Mineral Exploration Tax Credit (the “CMETC”). Proceeds from
the sale of FT Shares will be used to incur “Canadian exploration expenses” as defined in subsection
66.1(6) of the ITA and “flow through mining expenditures” as defined in subsection 127(9) of the ITA
and will be targeted for critical minerals for eligibility under the CMETC. Such proceeds will be
renounced to the subscribers with an effective date not later than December 31, 2024, in the aggregate
amount of not less than the total amount of gross proceeds raised from the issue of FT Shares.
In connection with the Private Placement, the Company paid aggregate cash compensation of $13,439.99
and issued 96,000 non-transferable broker warrants (the “Broker Warrants”) to eligible brokers for their
assistance with the Private Placement. Each Broker Warrant entitles the holder thereof to purchase one
common share of the Company at a price of $0.14 per share until November 1, 2026.
In accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange ,
the FT Shares, the Warrants, any Warrant Shares and any common shares issued upon the exercise of the
Broker Warrants are subject to a statutory hold period of four months and one date following the closing
date of the Private placement.
About GSP Resource Corp.: GSP Resource Corp. is a mineral exploration & development company
focused on projects located in Southwestern British Columbia. The Company has an option to acquire a
100% interest and title to the Alwin Mine Copper-Gold-Silver Property in the Kamloops Mining Division,
as well as an option to acquire 100% interest and title to the Olivine Mountain Property in the
Similkameen Mining Division, of which it has granted an option to earn a 60% interest to a third party.
For more information, please contact:
Simon Dyakowski, Chief Executive Officer & Director
Tel: +1 (604) 619-7469
Email: [email protected]
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.
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be
any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be
unlawful, including any of the securitie s in the United States of America. The securities have not been
and will not be registered under the United States Securities Act of 1933, as amended (the “ 1933 Act”)
or any state securities laws and may not be offered or sold within the United States or t o, or for account
or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the
1933 Act and applicable state securities laws, or an exemption from such registration requirements is
available.
Forward-Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable
securities laws, which may include, without limitation, the Private Placement, exploration work on the Alwin
Project, other statements relating to the technical, financial and business prospects of the Company, its projects
and other matters. All statements in this news release, other than statements of historical facts, that address
events or developments that the Company expects to occur, 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 may differ materially
from those in the forward -looking statements. Such statements and information are based on numerous
assumptions regarding present and future business strategies and the environment in which the Company will
operate in the future, including the price of metals, the ab ility to achieve its goals, that general business and
economic conditions will not change in a material adverse manner, that financing will be available if and when
needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect
to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties
relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and
cost estimates and the potential for unexpected costs and expenses, and those filed under the Company’s
profile on SEDAR+ at www.sedarplus.ca. Factors that could cause actual results to differ materially from
those in forward looking statements include, but are not lim ited to, continued availability of capital and
financing and general economic, market or business conditions, adverse weather or climate conditions, failure
to maintain all necessary government permits, approvals and authorizations, failure to obtain or ma intain
community acceptance (including First Nations), decrease in the price of copper, gold, silver and other metals,
increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The
Company does not undertake to update forward‐looking statements or forward‐looking information, except as
required by law.