Great Quest Announces Private Placement
18 Dezember 2013 - 3:33PM
Marketwired
Great Quest Announces Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 18, 2013) -
Great Quest Metals Ltd (the "Company") (TSX-VENTURE:GQ)
(FRANKFURT:GQM) today announced that it intends to complete a
non-brokered private placement of up to 850,000 units at a price of
$0.60 per unit for gross proceeds of around $500,000. Each unit
will consist of one common share and one common share purchase
warrant. Each common share purchase warrant will be exercisable for
one common share at a price of $0.80 per share for a period of
three years from the date of issue, subject to the Company's right
to accelerate the expiry of the warrants if the daily volume
weighted average trading price of the common shares of the Company
on the TSX Venture Exchange is equal to, or exceeds $1.20 for a
period of 20 consecutive trading days during the term of the
warrant.
The terms and
completion of the private placement are subject to TSX Venture
Exchange approval. The Company may pay finder's fees in connection
with the private placement. The net proceeds from the placement
will be used by the Company for operations and general working
capital purposes.
About Great
Quest
Great Quest Metals
Ltd. is a Canadian mineral exploration company focused on the
development of African agricultural mineral projects for local
production of farm ready fertilizers. The Company's flagship asset
is the Tilemsi Phosphate Project, encompassing 1,206 km² in
northeastern Mali, containing high quality phosphate resources
amenable to use as direct application fertilizer. Great Quest is
listed on the TSX Venture Exchange under the symbol GQ, and the
Frankfurt Stock Exchange under the symbol GQM.
ON BEHALF OF THE
BOARD OF DIRECTORS OF GREAT QUEST METALS LTD.
Jed Richardson,
President, Chief Executive Officer and Director
Neither the TSX
Venture Exchange nor its Regulation Services Provider accepts
responsibility for the adequacy or accuracy of this release. The
statements that are not historical facts and are forward-looking
statements involving known and unknown risks and uncertainties
could cause actual results to vary materially from the targeted
results. We seek safe harbor.
Great Quest Metals Ltd.Jed RichardsonPresident, Chief Executive
Officer and Director1 416-566-8134
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