Great Quest Closes Final Tranche of Private Placement
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
Each Unit consists of one common share in the capital of the Company (each a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one common share in the capital of the
In connection with the Final Tranche, the Company paid cash finder’s fees of
The net proceeds of the Final Tranche will be used for exploration at the Company’s Namibian properties and for working capital purposes. The Final Tranche is subject to the approval of the
An officer of the Company has subscribed for 7,880,000 Units pursuant to the Final Tranche (the “Insider Participation”). The Insider Participation is considered to be a “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The Insider Participation is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within
About Great Quest
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST FERTILIZER LTD.
“Jed Richardson”
Chief Executive Officer and Executive Chairman
Disclaimer for Forward-Looking Information
This news release may contain forward-looking statements. These statements include statements regarding the Private Placement and use of proceeds and the Company’s future plans and objectives. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statements or other reports and filings with the
Neither the
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For more information:
Please contact Investor Relations by email at IR@greatquest.com
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