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SASKATOON, Saskatchewan, June 14, 2018 (GLOBE NEWSWIRE) -- GESPEG COPPER RESOURCES INC. (TSX-V: GCR ) (the “ Company ” or “ Gespeg ”) announces that it has completed the second tranche of its private placement (the " Offering ") and has raised gross proceeds of $86,000. The second tranche closing consisted of 2,866,667units (the " Units ") at a price of $0.03 per Unit. Each Unit consists of one common share in the capital of the Company (a " Share ") and one share purchase warrant (a " Warrant "). Each full Warrant will entitle the holder to purchase one Share at a price of $0.06 exercisable until June 15th, 2020. The final amount for this financing is $290,750 for a total of 9,691,667 units.
All securities issued in connection with this second tranche closing have a hold period expiring on October 15, 2018.
Most of the proceeds of this total financing will be to advance the projects in the portfolio of properties. A small portion to pay certain debts non-related to management and salaries.
About Gespeg Copper Resources Inc.: Gespeg is an exploration company with a focus in grossly underexplored regions “Gaspé and Montauban, Québec”. With a dedicated management team, the Company’s goal is to create shareholder wealth through the discovery of new deposits.
GESPEG COPPER RESOURCES INC.
(signed) “ Sylvain Laberge ”
Sylvain Laberge President and CEO 514.380.5610 514.702.9841 Slaberge@gespegcopper.com
FORWARD LOOKING INFORMATION
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
