GOLDREA ANNOUNCES PRIVATE PLACEMENT WITH CHINESE INVESTMENT FIRM
March 26, 2010 - Vancouver, British Columbia
Goldrea Resources Corp. (GOR-TSX.V; Frankfurt-GOJ; Pink Sheets-GORAF) (�Goldrea� or the �Company�) is pleased to announce it has negotiated a private placement with China Finance Gold International Investment Limited, for a non-brokered private placement of up to 40,000,000 units (�Units�) at $0.14 per Unit for gross proceeds of $5,600,000. Each Unit will consist of one common share and one-half of a share purchase warrant (the �Warrant�). Each whole Warrant will entitle the holder to purchase one common share at a price of $0.20 for one year from the date of issue. All of the securities issued pursuant to this offering will have a hold period expiring four months after the closing date. If it is determined that a new control person will be created the Company will seek disinterested shareholder approval to the Private Placement prior to closing the Private Placement.
This private placement remains subject to shareholder approval and the acceptance of the TSX Venture Exchange (the �TSX�) and finders� fees may be payable in accordance with the policies of the TSX.
The proceeds of the private placement will be used for exploration work on the Ludi concession and developing the Golden Rose shaft area for additional production, both located in Shandong Province, China and general working capital.
GOLDREA RESOURCES CORP.
Larry W. Reaugh,
President and Chief Executive Officer
Information Contact
Larry W. Reaugh
President and Chief Executive Officer
Head Office: 2A 15782 Marine Drive, White Rock, B.C. V4B 1E6
Cautionary Notice: The Reader is cautioned that the full Cautionary Notice is not attached to this email. The reader is requested to access the news release on the Company�s website at www.goldrea.com or at SEDAR at www.sedar.com to read the full Cautionary Notice. The full Cautionary Notice is not attached as the recipient�s spam filters frequently block receiving emails containing the full Cautionary Notice.
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Goldrea Resources Corp.
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EXPLORATION STAGE |
CODE : GOR.V |
ISIN : CA3814281018 |
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Goldrea Resources is a gold producing company based in Canada. Goldrea Resources holds various exploration projects in Canada and in China. Its main exploration properties are DOBBIN II, CROWREA, DOBBIN I, FLAP, EMPRESS, UNGAVA and BX CLAIMS in Canada and DAYE in China. Goldrea Resources is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 753 800 as of today (US$ 691 536, € 516 093). Its stock quote reached its highest recent level on December 29, 2006 at CA$ 0.85, and its lowest recent point on July 30, 2014 at CA$ 0.01. Goldrea Resources has 75 380 000 shares outstanding. |