Goldrea Resources arranges $300,000 private placement

Jan 26, 2021

2021-01-26 14:02 ET – News Release

Mr. James Elbert reports

GOLDREA ANNOUNCES PRIVATE PLACEMENT AND UPDATES FOR GOLDEN TRIANGLE AND DIXIE LAKE PROPERTIES

Goldrea Resources Corp. has arranged a private placement and has provided updates on the company’s exploration plans for its active gold and copper projects in Canada.

Goldrea will be conducting a non-brokered private placement of up to six million units at five cents each, for gross proceeds of up to $300,000. Each unit will consist of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one additional share for six cents during the three years following closing, provided that in the event the company’s stock close at 12 cents per share or higher for a period of 10 consecutive trading days on the Canadian Securities Exchange, the company may give notice to warrant holders that the warrants’ exercise term will expire in 15 days. The gross proceeds of the private placement will be used to finance work on properties held in Canada and for general working capital. All securities issued under the private placement will be subject to a four-month hold. A finder’s fee may be paid in connection with the financing.

Work done so far on the Cannonball property in the heart of the Golden Triangle in northwestern British Columbia has been reported in detail in the news release of Oct. 21, 2020. Goldrea recently doubled its size, by acquiring the adjoining Adrian property in September, 2020, to bring the land holdings to 3,779 hectares. With the drilling permit in place, Goldrea is beginning the process for a program that includes both IP surveys and drilling in the upcoming season beginning in late spring. The mining companies with gold projects near the Cannonball property include Enduro and Seabridge, among many others, all of which have extensive drilling programs under way with positive results being announced. Goldrea’s website gives an overview of the area, with mappings and trend lines of interest.

While the company is focusing on the Golden Triangle, it is keeping the Dixie Baby property in good standing in the Red Lake district in Ontario. The company is of the opinion there is a great potential in the area, especially as neighbours such as Great Bear Resources and BTU Metals continue to produce encouraging results from their endeavours on their nearby and adjoining properties. The company is also active in engaging in conversation with potential new partners and acquisitions that can be made in light of the recent upswing in gold prices.

We seek Safe Harbor.

https://goldrea.com/