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While at
Private Placement Financing
The company also announces that it intends to complete a non-brokered private placement (the “Private Placement”) of up to 3,000,000 units (each a “Unit”) at a price of
In connection with the Private Placement, the Company may pay finders’ fees in cash or securities, or a combination of both, as permitted by the policies of the
The Private Placement will be conducted pursuant to available prospectus exemptions including sales to accredited investors, family members, close friends and business associates of directors and officers of the Company, to non-accredited purchasers who have obtained suitability advice from a registered investment dealer pursuant to the exemption set out in BC Instrument 45-536 and similar provisions in securities legislation of other jurisdictions (Exemption from prospectus requirement for certain distributions through an investment dealer) (the “Investment Dealer Exemption”) and to existing shareholders of the Company pursuant to the exemption set out in British Columbia Securities Commission BC Instrument 45- 534 and similar provisions in securities legislation of other jurisdictions (Exemption from prospectus requirement for certain trades to existing security holders) (the “Existing Shareholder Exemption”).
For subscribers utilizing the Existing Shareholder Exemption, the Private Placement is available to all shareholders of the Company as at
There are conditions and restrictions when relying upon the Existing Shareholder Exemption, namely, the subscriber must: a) be a shareholder of the Company on the Record Date (and still are a shareholder), b) be purchasing the Units as a principal, i.e. for their own account and not for any other party, and c) may not purchase more than
There is no minimum offering size and the offering size is up to 3,000,000 Units for gross proceeds of
If the Private Placement is not fully subscribed, the Company will apply the proceeds to the above uses in priority and in such proportions as the Board of Directors and management of the Company determine is in the best interests of the Company. Although the Company intends to use the proceeds of the Private Placement as described above, the actual allocation of proceeds may vary from the uses set out above depending on future events or opportunities and market conditions.
Subscribers in all Canadian jurisdictions may utilize the Existing Shareholder Exemption. Subscribers implementing the Investor Dealer Exemption must reside in one of the following jurisdictions:
As required by the Investment Dealer Exemption, the Company confirms there is no material fact or material change relating to the Company that has not been generally.
About
Contact Information -For more information, please contact:
Tel:(604) 619-7469
Email:simon@gspresource.com
Neither the
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 securities in
Forward-Looking Information
This news release contains “forward looking information or statements” within the meaning of applicable securities laws, which may include, without limitation,closing of the Private Placement, estimated use of proceeds, future exploration work on the Company’s projects, 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 ability 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 therisks 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, including those filed under the Company’s profile on SEDAR atwww.sedar.com.Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather conditions, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain 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.
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