Glacier Lake Raises $530,590 in Oversubscribed Private Placement
Glacier Lake Raises $530,590 in Oversubscribed Private Placement
VANCOUVER, British Columbia, March 19, 2018 -- Glacier Lake Resources Inc. (TSXV:GLI) (“Glacier” or the
“Company”) is pleased to announce that it has completed its non-brokered private placement of units (each, a “Unit”) at a
price of $0.06 per Unit. The placement was oversubscribed and on closing the Company issued 8,843,175 Units for gross
proceeds of $530,590.50.
Each “Unit” consists of one common share of the Company and one common share purchase warrant (each, a “Warrant ”).
Each “Warrant ” entitles the holder to purchase an additional common share at a price of $0.10 for a period of twenty-four
months, subject to accelerated expiry in the event the closing price of the Company’s common shares is $0.25 or higher for
ten (10) consecutive trading days.
The Company anticipates utilizing the proceeds of the private placement to fund its summer work programs in British
Columbia, and for general working capital purposes.
In connection with completion of the private placement, the Company has paid finder’s fees of $24,655.20 and issued 398,920
Warrants to certain persons who introduced subscribers to the Company. All securities issued in connection with the private
placement are subject to a four-month-and-one-day statutory hold period.
For additional information please feel free to contact:
Saf Dhillon
President/CEO
Glacier Lake Resources Inc.
Tel: 866-687-7059
Dir: 604-688-2922
Please visit our Website at: www.glacierlake.ca
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within,
other than statements of historical fact, are to be considered forward looking. 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
market prices, continued availability of capital and financing, and general economic, market or business conditions. There
can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own
evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as
required under the applicable laws.