July 31, 2013: Vancouver, British Columbia: Gold Reach Resources Ltd. (the “Company”) (GRV: TSXV) is pleased to announce that further to its news release of June 24, 2013 the Company has closed the first tranche of its non-brokered private placement and has issued a total of 650,500 units at a purchase price of $1.00 per unit for gross proceeds of $650,500.
Each unit consisted of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase an additional common share at a price of $2.00 per share for 12 months from the closing date, subject to accelerated expiry, such expiry may be accelerated to 30 days in the event the Company’s share have closed at or above a weighted average trading price of $2.50 per share for ten consecutive trading days.
The Company anticipates closing the second tranche within the next month.
The proceeds of the financing will be used to continue exploration on the Ox and Seel deposits at the Company’s 100% owned Ootsa property in British Columbia and for general working capital.
In compliance with Canadian securities laws, all of the securities issued in connection with this closing are subject to a hold period expiring on December 1, 2013.
ON BEHALF OF THE BOARD OF DIRECTORS
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. 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.