Great Bear Resources Limited Non-Brokered Private Placement
VANCOUVER, BC / ACCESSWIRE / June 1, 2015 / Great Bear Resources Ltd. (the "Company") is pleased to announce it intends to complete a non-brokered private placement to raise up to C$800,000 by the issuance of up to 16,000,000 units at $0.05 per unit. Each unit will consist of one common share and one half common share purchase warrant. Each warrant will entitle the holder to acquire an additional common share for $0.08 per share for a two year period.Finders' fees may be paid in accordance with regulatory policy. All shares issued in connection with the private placement are subject to a four month hold period.
The private placement is subject to regulatory approval. Proceeds from the private placement will be used for further exploration as well as corporate working capital.
The Company also notifies investors that it has terminated its Option Agreement to earn up to a 100% interest in the Perdito project in Inyo County, California. The Company intends to focus on its partnership with Osisko Gold Royalties Ltd. (TSX: OR) at the Lac Pau project in Quebec and looks forward to becoming active in this mining-friendly jurisdiction.
For further information, please contact Mr. Chris Taylor, P.Geo, President or Mr. Bob Singh, P.Geo, Vice President Exploration, at 604 681-0084, or Mr. Allan Barry Laboucan, Special Advisor, at 604 505-4753.
ON BEHALF OF THE BOARD
"Chris Taylor"
Chris Taylor, President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Great Bear Resources Ltd.