Grande Portage Resources Announces Update on Equity Financing

Grande Portage Resources Announces Update on Equity Financing

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FRA:GPB) ("Grande Portage" or the "Company") is pleased to announce that its non-brokered private placement of up to 5,555,555 Units announced on July 30, 2024, has been over-subscribed and will now consist of 5,836,221 Units at a price of $0.18 for gross proceeds of $1,050,520 subject to approval by the TSX Venture Exchange

As previously announced, each Unit in this offering consists of one common share in the capital of the Company (each a "Common Share") and one share purchase warrant (a "Warrant"). Each warrant entitles the Unit holder to purchase one (1) additional GPG common share at a price of $0.25 per share at any time within 24 months of the closing.

The Company will pay an aggregate of $22,858 in cash and issue 119,210 Finders Warrants in connection with this offering. Each Finder's Warrant entitles the holder to acquire one common share of the Company at $0.25 per share for 24 months from the date of closing. The Finder's Warrants are issued on the same terms and conditions as the private placement Warrants. All finder's fees are subject to compliance with applicable securities legislation and TSX Venture Exchange policies.

All securities issued will be subject to a four-month hold period which will expire on the date that is four months and one day from the date of issue.

About Grande Portage:

Grande Portage Resources Ltd. is a publicly traded mineral exploration company focused on the Herbert Gold discovery situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% interest in the Herbert property. The Herbert Gold property system is open to length and depth and is host to at least six main composite vein-fault structures that contain ribbon structure quartz-sulfide veins. The project lies prominently within the 160km long Juneau Gold Belt, which has produced over seven million ounces of gold.

The Company's updated NI#43-101 Mineral Resource estimate reported at a base case mineral resources cut-off grade of 2.5 grams per tonne gold (g/t Au) and consists of: an Indicated Resource of 1,438,500 ounces of gold at an average grade of 9.47 g/t Au (4,726,000 tonnes); and an Inferred Resource of 515,700 ounces of gold at an average grade of 8.85 g/t Au (1,813,000 tonnes), as well as an Indicated Resource of 891,600 ounces of silver at an average grade of 5.86 g/t Ag (4,726,000 tonnes); and an Inferred Resource of 390,600 ounces of silver at an average grade of 7.33 g/t silver (1,813,000 tonnes).

ON BEHALF OF THE BOARD

"Ian Klassen"
Ian M. Klassen
President & Chief Executive Officer
Tel: (604) 290-5762
Email: Ian@grandeportage.com

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties as described in the Company's filings with Canadian securities regulators. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE

SOURCE:Grande Portage Resources Limited



View the original press release on accesswire.com

News Provided by ACCESSWIRE via QuoteMedia

GPG:CC
Grande Portage Resources

Grande Portage Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Grande Portage Resources

Grande Portage Resources


Keep reading...Show less
Grande Portage Announces First Closing of Non-Brokered Private Placement -- Pursuant to the Listed Issuer Financing Exemption

Grande Portage Announces First Closing of Non-Brokered Private Placement -- Pursuant to the Listed Issuer Financing Exemption

Not for distribution to United States newswire services or for dissemination in the United States.

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce that it has completed a first closing of its non-brokered private placement previously announced on October 30, 2024 for the sale of 3,470,000 units (each, a "Unit") at a price of C$0.30 per Unit for aggregate gross proceeds of C$1,041,000 (the "Offering"). The Offering is being carried out pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions - Listed Issuer Financing Exemption (the "LIFE Exemption") to purchasers resident in Canada, and in jurisdictions outside of Canada in compliance with the applicable securities laws of those jurisdictions. The Company has an offering document (the "Offering Document") related to the Offering that can be accessed under Grande Portage's profile at www.sedarplus.ca and on the Company's website at https:grandeportage.com. Except for one US accredited investor, all other investors participating in the first closing subscribed for Units under the LIFE Exemption, and the Units issued pursuant to the LIFE Exemption are not subject to any statutory hold period in Canada. However, the Units issued to the US accredited investor are subject to Rule 144 resale restrictions under applicable US securities laws and will bear a legend to that effect

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Grande Portage Announces Non-Brokered Private Placement Pursuant to the Listed Issuer Financing Exemption

Grande Portage Announces Non-Brokered Private Placement Pursuant to the Listed Issuer Financing Exemption

Not for distribution to United States newswire services or for dissemination in the United States.

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce a non-brokered private placement of up to 10,000,000 units (each, a "Unit") at a price of C$0.30 per Unit for aggregate gross proceeds of up to C$3,000,000 (the "Offering"). The Offering is being carried out pursuant to Part 5A of National Instrument 45-106 - Prospectus Exemptions (the "LIFE Exemption") to purchasers resident in Canada, and in jurisdictions outside of Canada in compliance with the applicable securities laws of those jurisdictions. The Company has an offering document (the "Offering Document") related to the Offering that can be accessed under Grande Portage's profile at www.sedarplus.ca and on the Company's website at https:grandeportage.com. Prospective investors should read the Offering Document before making an investment decision

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Grande Portage Resources Develops Conceptual Mining Plan

Grande Portage Resources Develops Conceptual Mining Plan

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to announce that, further to its recently filed updated **NI #43-101 Mineral Resource Estimate, the Company has developed a Conceptual Mining Plan to determine the optimal development pathway for its Herbert Gold project located in SE Alaska

To that end, earlier this year, the Company engaged the services of OreLogic LLC, a consulting firm providing mine planning and project development services. OreLogic is led by Kyle Mehalek, formerly Chief Mining Engineer at Hecla Mining's Greens Creek Mine in southeast Alaska, one of the largest and lowest-cost primary silver mines in the world.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Grande Portage Closes Equity Financing

Grande Portage Closes Equity Financing

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FRA:GPB) ("Grande Portage" or the "Company") is pleased to announce that it has closed a non-brokered private placement with the issuance of 5,836,221 Units at a price of $0.18 for gross per unit for gross proceeds of $1,050,520. The closing is subject to final approval by the TSX Venture Exchange

Each unit in this offering consists of one common share in the capital of the company and one share purchase warrant. Each warrant entitles the unit holder to purchase one additional GPG common share at a price of $0.25 per share at any time within 24 months of the closing.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Grande Portage Resources Announces Equity Financing

Grande Portage Resources Announces Equity Financing

Grande Portage Resources Ltd. (TSXV:GPG)(OTCQB:GPTRF)(FSE:GPB) ("Grande Portage" or the "Company") is pleased to report that it has arranged, subject to the acceptance of the TSX Venture Exchange ("TSX-V"), a non-brokered private placement of up to 5,555,555 units (the "Units") for gross proceeds of up to $1,000,000 (the "Offering

The private placement offering will be priced at $0.18 per Unit, and each Unit will consist of one (1) common share in the capital of the Company and one full share purchase warrant (the "Warrants"). Each Warrant will be exercisable at a price of $0.25 for one additional common share for a period of 24 months following the closing date.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
M&A graphic.

Orla to Buy Musselwhite Gold Mine from Newmont for US$850 Million

Orla Mining (TSX:OLA,NYSEAMERICAN:ORLA) has entered into a definitive deal to buy the Musselwhite gold mine from Newmont (TSX:NGT,NYSE:NEM), positioning the company to more than double its annual gold production.

The purchase, valued at US$810 million, with two additional contingent payments of US$20 million each, will set Orla up as a diversified North American gold producer as it marks the company's entry into Canada.

The first contingent payment will be made if the spot gold price exceeds US$2,900 per ounce in the first year after the transaction closes, and the second will be made if the price exceeds US$3,000 in the second year after closure.

Keep reading...Show less
Gold map of the world over black background.

10 Largest Producers of Gold by Country (Updated 2024)

The top countries for gold production are poised to benefit from the current gold bull market, as are the gold mining operations in those countries.

After climbing throughout the year, the price of gold hit a high of US$2,782 per ounce on October 30, up more than US$700 since the start of 2024. While it pulled back to around US$2,600 in the weeks following the US election on November 5, prices are still elevated.

Additionally, falling interest rates, geopolitical tensions in Ukraine and the Middle East and continued central bank gold purchases are providing ongoing support for the price of gold.

Keep reading...Show less
Gold bars in front of Canadian flag.

Indigenous-owned Mining Royalty Firm Targeting Canadian Resource Opportunities

Nations Royalty (TSXV:NRC,OTCQB:NRYCF), the first mining royalty company with majority Indigenous ownership, is attracting attention since listing on the TSX Venture Exchange this past June.

With 77 percent ownership by the Nisga’a Nation, the firm is also backed by Canadian businessman Frank Giustra.

As explained on Nations Royalty's website, the idea is to use mining royalties as a means to achieve financial independence for Indigenous communities, while also providing opportunities for investors.

Keep reading...Show less

Kestrel Option Partner Centerra Gold Continues Drilling at QCM Property

Kestrel Gold Inc. ("Kestrel" or the "Corporation")(TSXV:KGC) is pleased to provide an update on work completed by Centerra Gold Inc. ("Centerra")(TSX:CG) on the QCM gold property ("QCM") located in the Manson-Germanson area of central British Columbia. Centerra is currently in the process of earning a 75% interest in QCM by making cash payments totaling $900,000 and completing $6,500,000 in exploration work, which must include a minimum of 13,500 metres of drilling, by May 7th, 2029

Centerra's reverse circulation ("RC") drill program is well underway. A total of 6 holes and 813.97 metres have been completed to date with drilling ongoing. Completed holes are located in the 14 Vein area where RC drilling by Kestrel in 2022 returned up to 2.33 g/t Au over 44.19 metres. Results for the Centerra drill program will be released once analytical results have been received and interpreted. Centerra has also advised that they have submitted to the Ministry of Energy, Mines and Low Carbon Innovation of British Columbia an application for a 5-year Multi-Year-Area-Based (MYAB) permit, which upon receipt will allow for property wide exploration and drilling.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

White Gold Corp. Announces Significant Increase in Mineral Resources to 1,203,000 oz Gold Indicated and 1,116,600 oz Gold Inferred at the White Gold Project, Yukon, Canada

White Gold Corp. (TSX.V: WGO, OTCQX: WHGOF, FRA: 29W ) (the "Company") is pleased to announce an updated Mineral Resource Estimate ("MRE") for its flagship White Gold project located approximately 95 km south of Dawson City in west-central Yukon, Canada. The updated mineral resource includes a significant increase in total gold ounces, including a 18.5% increase in inferred resources and an 4.3% increase in indicated resources. The White Gold project now comprises 1,203,000 ounces of gold in the Indicated Resource category (17.7 million tonnes averaging 2.12 gt Au) and 1,116,600 ounces of gold in the Inferred Resource category (24.5 million tonnes averaging 1.42 gt Au) at US$2,000oz gold. The gold resources at the White Gold Project are near surface, almost entirely captured within an open pit, and remain open for expansion in multiple directions with additional opportunities to increase total resources via targets within close proximity. Additional increases to the size of the resource may also be possible through an ongoing analysis of the resource block model and by capturing additional ounces hosted within the Target for Further Exploration area which hosts an additional estimated 10 12 million tonnes grading between 1 2 gt Au. These results form part of the Company's work program supported by strategic partners including Agnico Eagle Mines Limited (TSX: AEM, NYSE: AEM) and Kinross Gold Corporation (TSX: K, NYSE: KGC).

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Red Mountain Mining

Stunning High Gold and Copper Soil Results Opens Up Potential New Gold and Copper Region

Red Mountain Mining Limited (“RMX” or the “Company”) is pleased to advise that it has received geochemical results for 284 soil samples collected during September from the Company’s 100%-owned Flicka Lake prospect in Ontario, Canada. The soil sampling was undertaken in parallel with a rock grab sampling program (refer ASX announcement: 6 November 2024). Samples were taken from around 400 locations within the Flicka Lake claims and 91 rock grab samples and 284 soil samples were collected and submitted for multielement geochemical analysis.

Keep reading...Show less
Grande Portage Resources

Grande Portage Resources Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×