Gold Reach Resources Ltd. has closed the non-brokered private placement unit offering 800,000 units, raising gross proceeds of $336,000 announced on Feb 7, 2011. The shares issued are subject to a four-month hold period expiring July 3, 2011.
As well, the company announces that, further to its stock option plan, it is granting options to buy an aggregate of 80,000 shares to various directors, officers, employees and consultants of the company. The options are exercisable at 60 cents per share for a term of two years from the date of grant.