Goldrea Completes First Portion of the Non-Brokered Private Placement
October 5, 2012 - Vancouver, British Columbia
Goldrea Resources Corp. (GOR-TSX.V; Frankfurt-GOJ; Pink Sheets-GORAF) (“Goldrea” or the “Company”) is pleased to announce that further to its news release dated September 17, 2012, the Company has closed the first portion of its Non-Brokered Private Placement for gross proceeds of $95,400 comprising of 3,180,000 units (the Unit”) at a price of $0.03 per Unit.
Each Unit is comprised of one common share in the capital of the Company (a “Share”) plus a two year share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one common share at a price of $0.05 in the first year and $0.10 in the second year at any time up to 5:00 pm (Vancouver time) on October 5, 2014. All of the securities issued pursuant to this private placement will have a hold period expiring four months and one day after the closing date.
The proceeds of this Private Placement will be used to pay amounts owing to the Company's auditors (approximately $70,000), legal fees (approximately $3,000), transfer agent fees (approximately $3,000), staff salaries (approximately $4,000), filing fees (approximately $2,000) Office Lease expenses ($6,000) and general office expenses (approximately $7,000).
The Company’s Board of Directors has approved this Private Placement.
GOLDREA RESOURCES CORP.
James Elbert
President and Chief Executive Officer
Information Contact
James Elbert
Telephone: 604-531-9639 Facsimile: 604-531-9634
Email: info@goldrea.com
www.goldrea.com
Cautionary Notice: The Reader is cautioned that the full Cautionary Notice is not attached to this email. The reader is requested to access the news release on the Company’s website at www.goldrea.com or at SEDAR at www.sedar.com to read the full Cautionary Notice. The full Cautionary Notice is not attached as the recipient’s spam filters frequently block receiving emails containing the full Cautionary Notice.
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Goldrea Resources Corp.
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EXPLORATION STAGE |
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CODE : GOR.V |
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ISIN : CA3814281018 |
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Goldrea Resources is a gold producing company based in Canada. Goldrea Resources holds various exploration projects in Canada and in China. Its main exploration properties are DOBBIN II, CROWREA, DOBBIN I, FLAP, EMPRESS, UNGAVA and BX CLAIMS in Canada and DAYE in China. Goldrea Resources is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 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. |