Gleichen heralds $200 million private placement of special warrants

By Devika Patel

Knoxville, Tenn., Oct. 14 - Gleichen Resources Ltd. said it plans to conduct a $200 million private placement of special warrants.

Macquarie Capital Markets Canada Ltd. will be the lead agent, and BMO Capital Markets and GMP Securities LP will be co-lead agents in a syndicate that includes Dundee Securities Corp., Scotia Capital Inc. and Jones Gable & Co. Ltd.

Proceeds will be used to fund the company's previously announced acquisition of 78.8% of the Morelos Project from Teck Resources Ltd.

Gleichen is a resource exploration company based in Vancouver, B.C.

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