TSX: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, BC, Nov. 24, 2020 /CNW/ - Garibaldi Resources
(TSXV: GGI) (the "Company" or "Garibaldi") is pleased to announce
that further to the Company's November16, 2020 news release
reporting the arrangement of a non-brokered private placement of up
to 5 million flow-through units at 60
cents to raise up to $3,000,000 (CDN), the Company has closed the
first tranche of $2,033,200 CDN by
the issuance of 3,388,666 units at 60
cents per unit.
Each flow-through unit is comprised of one flow-through share
and one-half of a non-transferable share purchase warrant. Each
full warrant is exercisable into one common share in the capital of
the Company at a price of 75 cents
for a period of two years. All units from the private placement are
subject to a four month hold period from the date of issuance. Two
directors of the Company have subscribed for a total of 52,000
units of this offering between them in reliance on the exemptions
from the requirements of Multilateral Instrument 61-101-
Protection of Minority Security Holders in Special Transactions
provided by subsections 5.5(a) and 5.7(a) thereof.
On closing this tranche of the financing, a finder's fee cash
payment of $105,000 CDN was made and
175,000 warrants issued exercisable at 60
cents for 24 months from the date of issuance. All proceeds
from the flow-through will be used to advance Garibaldi's
properties in the Eskay Camp and elsewhere in British Columbia.
About Garibaldi
Garibaldi Resources Corp. is an active Canadian-based junior
exploration company focused on creating shareholder value through
discoveries and strategic development of its assets in some of the
most prolific mining regions in British
Columbia and Mexico.
We seek safe harbor.
GARIBALDI RESOURCES CORP.
Per:
Steve Regoci, President
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or the accuracy of
this release.
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content:http://www.prnewswire.com/news-releases/garibaldi-updates-financing-301179651.html
SOURCE Garibaldi Resources Corp.
