GREAT QUEST
Suite 515, 475 Howe Street Vancouver, BC, Canada V6C 2B3 | Tel: 604-689-2882 Website: www.greatquest.com Fax: 604-684-5854 Email: info@greatquest.com |
July 8, 2008
Annual General Meeting
$360,000 Private Placement Closes
VANCOUVER, BC -- Willis W. Osborne, President of Great Quest Metals Ltd. (TSXV: GQ; Frankfurt: GQM), reports that the Company held its Annual General Meeting on June 5, 2008, at which time Willis W. Osborne, Victor J.E. Jones, Scott B. Hean, Mahamadou Keita, and Robert Veitch were elected to the Company?s board of directors. The following persons were appointed as officers: Victor J.E. Jones as Chairman and Chief Financial Officer, Willis W. Osborne as President and Chief Executive Officer, Mahamadou Keita as Vice President of Exploration and Jennifer Nestoruk as Secretary. The Company's Stock Option Plan received the approval of the shareholders, pursuant to which the directors may, from time to time, authorize the issuance of options to directors, officers, employees and service providers of the Company and its subsidiaries to a maximum of 10% of the issued and outstanding common shares at the time of the grant, with a maximum of 5% of the Company?s issued and outstanding shares being reserved to any one person on a yearly basis.
In further news, the Company is pleased to announce the closing of a non-brokered private placement with total proceeds of $360,000. The private placement consisted of 3,000,000 units priced at $0.12 with each unit consisting of one common share and one-half of a one year, transferable share purchase warrant. Each full warrant entitles the holder to purchase one additional common share of the Company?s capital stock at a price of $0.20 until June 18, 2009.
Finder?s fees of $12,768 and 106,400 broker warrants were paid with the warrants exercisable at a price of $0.20 until June 18, 2009. All shares issued are subject to a four-month hold period and may not be traded in British Columbia until October 19, 2008.
ON BEHALF OF THE BOARD OF DIRECTORS
OF GREAT QUEST METALS LTD.
Willis W. Osborne
President
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Great Quest Metals Ltd
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EXPLORATION STAGE |
CODE : GQ.V |
ISIN : CA3909121038 |
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Great Quest Metals is a gold and copper development stage company based in Canada. Great Quest Metals holds various exploration projects in Mali. Its main exploration properties are KENIETI, BOURDALA, KENIEBA, TIN HINA and SANOULOU in Mali and TASEKO in Canada. Great Quest Metals is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 537 200 as of today (US$ 429 519, € 407 640). Its stock quote reached its highest recent level on May 27, 2011 at CA$ 4.88, and its lowest recent point on August 11, 2023 at CA$ 0.01. Great Quest Metals has 53 720 000 shares outstanding. |