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Strategies & Market Trends : Dino's Bar & Grill
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From: Andrew~5/14/2013 3:34:43 PM
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GR.V VANCOUVER, British Columbia – May 13, 2013 – GREAT ATLANTIC RESOURCES CORP. (TSXV.GR) is pleased to announce that it has closed a share for debt financing announced May 3, 2013. The share for debt filing has paid for accumulated service fees of $178,841. Approximately 3,576,827 shares in the capital stock of the Company will be issued to pay outstanding payables including the recently completed CARDS survey (Computer Aided Resource Detection System) technology, employed to further define potential Tungsten exploration targets on the South Quarry property in Newfoundland. Also included is payment for the LIDAR technology employed on the Company`s West Gore Antimony and Gold property located in Nova Scotia. LIDAR (Light Detection and Ranging) is an optical remote sensing technology that measures properties of scattered light to find range and/or other information of a distant target. This technology is used to produce highly accurate terrain elevation data in an unprecedented turnaround time. Specially modified survey aircraft are employed to carry multiple LIDAR sensors over a specified territory (claims) to gather accurate information. The shares for debt will also cover an annual option payment due on the Christmas Island Gold and Graphite property in Nova Scotia and for drilling contractor services. The shares issued for stock will be subject to a four month hold period and Great Atlantic management will retain voting rights over the issued stock.
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