Goldcliff Resource (GCN-V) Aug 25, '16 has completed a first tranche closing of its previously announced non-brokered private placement (see Goldcliff news release dated Aug. 8, 2016). At the closing of the first tranche on Aug. 24, 2016, the company issued 2.2 million units for gross proceeds of $418,000. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of 25 cents per share for a period of two years from the date of closing. The company paid finders' fees totalling $5,700 in cash and issued 30,000 finder warrants in connection with the private placement. Each finder warrant entitles the holder to purchase one common share at a price of 25 cents per share for a period of two years from the date of closing. All securities issued pursuant to the private placement are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
Goldcliff anticipates the closing of a second tranche to occur on or about Aug. 31, 2016.
For further information, please contact
George W. Sanders, President,
at 250-764-8879,
toll free at 1-866-769-4802 or
email at info@directroyalty.com.
GOLDCLIFF RESOURCE CORPORATION
Per: “George W. Sanders”
George W. Sanders, President |
