NOT FOR DISSEMINATION IN THE UNITED STATES OR VIA US NEWSWIRE SERVICES
October 15, 2015: Vancouver, British Columbia: Gold Reach Resources Ltd. (the “Company”) (GRV: TSX-V) announces it is undertaking a non-brokered private placement offering (the “Offering”) of up to 2,941,176 units (“Units”) at a price of $0.17 per Unit raising gross proceeds of up to $500,000.
Each Unit will consist of one common share of the Company and one common share purchase warrant, and each warrant will be exercisable into one common share at a price of $0.22 per share for a 24 month exercise period, subject to abridgement of the exercise period (after the expiry of the 4 month hold period) with 30 days notice to holders in the event that the ten-day volume weighted price of the shares exceeds $0.40.
The proceeds of the private placement will be used to commence a Preliminary Economic Assessment on its Ootsa Project in British Columbia and for general working capital.
The Company may issue finder’s fees in connection with this Offering. The Offering and finder’s fees are subject to the acceptance of the TSX Venture Exchange. All securities issued in connection with the private placement will be subject to a statutory hold period of four months.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
For Further information, please contact:
Toll Free: 888-500-4587
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.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although Gold Reach 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 forward looking statements. Gold Reach expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.