Non-brokered deal funds exploration on properties, corporate purposes
By Devika Patel
Knoxville, Tenn., Aug. 29 – GFK Resources Inc. announced it will conduct a C$1 million non-brokered private placement of units.
The company will sell 10 million units of one common share and one warrant at C$0.10 per unit. Each 18-month warrant is exercisable at C$0.15, a 16.67% discount to the Aug. 26 closing share price of C$0.18.
Settlement is expected within two weeks.
Proceeds will be used for exploration on properties in the Chapais-Chibougamau and Urban-Barry area and general corporate purposes.
The gold explorer is based in Montreal.
| Issuer: | GFK Resources Inc.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 10 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.15
|
| Agent: | Non-brokered
|
| Pricing date: | Aug. 29
|
| Stock symbol: | TSX Venture: GFK
|
| Stock price: | C$0.18 at close Aug. 26
|
| Market capitalization: | C$6.19 million
|
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