Great Atlantic Resources Closes $2.0 Million Financing, Sees Sprott Participate

Great Atlantic Resources Corp. (TSXV: GR) today reported that the company has closed its private placement offering for total gross proceeds of approximately $2,060,000. The offering consisted of $1,360,000 in flow-through units of Great Atlantic at a price of $0.68 per FT Unit, and $700,000 worth of units at a price of $0.50 per unit.

Flow through units consists of a flow through share of the company and one common share purchase warrant. Each unit consists of one common share of Great Atlantic and one warrant, with each warrant granting the holder the ability to purchase one common share at an exercise price of $0.75 at any time within the warrant’s 36 month expiration.

Eric Sprott is said to have acquired 2,000,000 units for total consideration of $1,000,000. Mr. Sprott now holds 2,000,000 common shares of Great Atlantic and 2,000,000 warrants, an amount that represents near to 16.9% of the issued and outstanding common shares of the company on a partially diluted basis, and 9.2% of the issued and outstanding common shares of the company on a non-diluted basis.

The proceeds of the offering are to be used for exploration expenses on the company’s mining projects.

Great Atlantic Resources Corp. last traded on the TSX Venture at $0.70.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

O3 Mining Reports 4.7 g/t Gold Over 3.8 Metres At Marban

O3 Mining Inc. (TSXV: OIII) this morning provided an update on its ongoing drill program...

Thursday, July 8, 2021, 08:06:54 AM

Gold Industry Set For A $160 Billion Cash Haul In 2026!? | Terry Lynch – Power Metallic

In this exclusive interview, Terry Lynch, CEO of Power Metallic (TSXV: PNPN), provides insights into...

Monday, May 19, 2025, 03:54:00 PM

Falcon Gold Applies For Exploration Permit For Bruce Lake Gold Property

An exploration permit has been applied for by Falcon Gold (TSXV: FG) for the firms...

Wednesday, May 20, 2020, 10:04:54 AM

GoGold Intersects 61.4 Metres Of 204 G/T Silver Equivalent At Los Ricos North

GoGold Resources (TSX: GGD) has released further assays in what has become a slow release...

Wednesday, December 9, 2020, 08:46:51 AM

Trillium Gold To Commence Drill Program At Rivard Property

Trillium Gold Mines (TSXV: TGM) is set to begin drilling its 100% owned Rivard property...

Thursday, January 21, 2021, 08:30:24 AM