Goldrea Resources to Raise C$680,000 Via Non-Brokered Private Placement
Goldrea Resources (GOR.CN) plans to raise C$680,000 through a non-brokered private placement offering of unit and flow-through units, it said in a statement on Thursday.The Vancouver, BC-based company will offer up to 10-million flow-through units (FT units) at C$0.028 each. Each FT unit will be comprised of one flow-through common share and half of a non-flow-through common share purchase warrant with an exercise price of C$0.05 for a one-year period.Up to 20-million units at $0.02 each will also be issued as part of the offering, with each unit composed of one common share and one full common share purchase warrant with an exercise price of C$0.05 for a period of one year, it said.Proceeds will be used to finance its ongoing exploration work at Cannonball located in British Columbia and to pay general administration expenses.Goldrea has mobilized field personnel to complete a C$150,000 exploration program on its Cannonball project. The Ministry of Mines has approved the company's five-year permit applications for IP surveys and drilling on all of the claim groups that comprise the project, it added.The company's shares last traded Aug. 25, closing at C$0.02 on the Canadian Securities Exchange.
