Goldrea Resources closes $417,500 private placement

Feb 22, 2021

2021-02-22 12:55 ET – News Release

Mr. Jim Elbert reports

GOLDREA CLOSES OVERSUBSCRIBED PRIVATE PLACEMENT

Goldrea Resources Corp. has closed its non-brokered private placement of five-cent units, which has been oversubscribed. The Company sold 8.35 million units for gross proceeds of $417,500. Each unit consists of one common share in the capital of the Company and one common share purchase warrant which entitles the holder to buy one common share at a price of $0.06 per share for three years.

The proceeds of the private placement will be used to fund the exploration of Company’s mineral properties and for general working capital. All securities issued under the private placement will have a four-month hold, and finder’s fees will be paid.

Goldrea’s President and chief executive officer, Jim Elbert, commented: “We are pleased the placement generated so much interest, which is a testament to the potential that our properties in the Golden Triangle possess. We are now well positioned to getting a more comprehensive picture of what lies beneath the surface of Goldrea’s contiguous 3779 hectares, building on the positive geologic work completed in 2020. The Company’s property is neatly sandwiched between Enduro Metals and Seabridge Gold, and we are also encouraged by their promising drill results. The ongoing glacial retreat has exposed a substantial increase in our properties’ explorable land base, to reveal previously unseen geologic trends in the region. We are very optimistic about the drilling campaign that Goldrea has planned for the 2021 season.”

We seek Safe Harbor.

https://goldrea.com/