Gold Reach Announces $510,000 Non-Brokered Flow-Through Private Placement

(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 08/23/11 -- Gold Reach Resources Ltd. (the "Company") (TSX VENTURE: GRV) announces it has arranged a non-brokered flow-through private placement units offering ("FT Units") of up to 850,000 FT Units, raising gross proceeds of $510,000. Each FT Unit, priced at $0.60 per each FT Unit, is comprised of one common share of the Company, intended to qualify as a flow-through share under the Income Tax Act (Canada), and one non-transferable common share purchase warrant ("NFT Warrants") entitling the holder to purchase one additional non-flow through common share of the Company at an exercise price of $0.90 per share for a period of two years from the closing date of the FT Unit offering.

The proceeds of the private placement will be used for the purpose of carrying out the exploration programs on the Company's Canadian properties.

The foregoing is subject to regulatory approval.

ON BEHALF OF THE BOARD OF DIRECTORS

Conrad Swanson, President & CEO

Safe Harbor Statement: The Company relies upon litigation protection for "forward-looking statements". The Company undertakes no obligation to update these forward-looking statements in the managements beliefs, estimates obligations or other factors should change.

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.



Contacts:
Gold Reach Resources Ltd.
Conrad Swanson
President & CEO
604-718-5454 or Toll Free: 888-500-4587

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Bereitgestellt von Benutzer: MARKET WIRE
Datum: 23.08.2011 - 21:07 Uhr
Sprache: Deutsch
News-ID 58538
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VANCOUVER, BRITISH COLUMBIA

Kategorie:

Mining & Metals

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