TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, Dec. 24, 2015 /CNW/ - Garibaldi Resources Corp.
(TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to announce
that it has closed a non-brokered private placement, raising total
gross proceeds of $848,000.
The company has issued 4,050,000 flow-through units at
$0.16 per unit (gross proceeds of
$648,000 CDN) and 1,666,667
non-flow-through units at $0.12 per
unit (gross proceeds of $200,000 CDN)
as detailed below.
Steve Regoci, Garibaldi President
and CEO, commented: "2015 has been a very productive year for
Garibaldi on the exploration front, advancing potential high-impact
discoveries in both British
Columbia and Mexico. We
look forward to a vigorous start to 2016."
Private Placement Details
The flow-through private placement at $0.16 contains one flow-through share in the
capital of the Company and one-half of a non-transferable share
purchase warrant. Each full warrant entitles the holder to acquire
one additional common share of the Company at a price of
$0.25 for a period of two years.
The non-flow-through private placement at $0.12 contains one common share in the capital of
the Company and one full non-transferable share purchase warrant
entitling the holder to acquire one additional common share of the
Company at a price of $0.20 for a
period of two years.
The units from this private placement are subject to a hold
period and may not be traded until April 24,
2016.
In connection with the offering, Secutor Capital Management
Corporation and Marquest Capital Markets fund will receive a total
cash finder's fee of $45,405 CDN.
Proceeds from the flow-through financing will be used to advance
the Company's B.C. flagship Grizzly Project as well as other B.C.
properties. Proceeds from the non-flow-through financing are
intended for the Company's Mexico
operations as well as general working capital purposes.
Company Grants Stock Options
Garibaldi has granted to certain directors, officers and
employees of the Company incentive stock options on up to 1,200,000
shares of the Company's capital stock, exercisable for up to five
years at a price of 20 cents per
share, pursuant to its stock option plan. This stock option grant
is subject to applicable regulatory hold periods and the approval
of the TSX Venture Exchange.
Corporate Fact Sheet
To view the latest corporate Fact Sheet for Garibaldi Resources,
please visit the Company's homepage or the following URL:
http://www.garibaldiresources.com/i/pdf/GGI_Factsheet.pdf
Project Videos
To view short Garibaldi videos on the Grizzly and Rodadero
Projects, please visit the Company's homepage or the following
URL:
http://www.garibaldiresources.com/s/Media.asp#Grizzly
About Garibaldi
Garibaldi Resources Corp. is an active Canadian-based junior
exploration company focused on creating shareholder value through
discoveries and strategic development of its assets in some of the
most prolific mining regions in Mexico and British
Columbia.
We seek safe harbor.
GARIBALDI RESOURCES CORP.
Per: "Steve Regoci"
Steve Regoci, President
Neither the TSX Venture Exchange nor its Regulation Services
Provider accepts responsibility for the adequacy or the accuracy of
this release.
SOURCE Garibaldi Resources Corp.