GORILLA MINERALS CORP. CLOSES PRIVATE PLACEMENT
Vancouver, BC, Feb 13, 2018 – Gorilla Minerals Corp. (“Gorilla” and/or the “Company”) is pleased to announce that it has closed its non-brokered private placement (the “Private Placement”) that was announced in January with the issuance of 6,000,000 units (“Units”) at $0.20 per Unit for gross proceeds of $1,200,000. Each Unit consisting of a common share (“Share”) in the capital of the Company and a whole share purchase warrant (“Warrant”), each Warrant entitling the holder to purchase an additional Share for $0.30 per Share. Finder’s fees totalling 600,000 Shares at a deemed price of $0.18 per Share were issued and split equally amongst two (2) individual finders.
All securities issued in connection with the Private Placement are subject to a prescribed four month hold and restricted trading period.
The Company intends to use the net proceeds of the Private Placement for mineral resource exploration of its properties and for general working capital.
Further to the news release announced on January 2nd, 2018, the Company has closed its previously announced acquisition of the Yukon Monster Property. The terms of the Agreement included a onetime payment of $45,000 and the issuance of 800,000 shares.
The Copper Cobalt Monster Property consists of one block of 212 mineral claims totaling a surface area of 43.3 km2. The property is in the Dawson Mining District within the traditional territory of the Tr’ondëk Hwëch’in First Nation.
For further information, please contact:
Scott Sheldon, President Gorilla Minerals Corp.
photo credit: Gorilla Minerals