Grand Peak Closes Non-Brokered Private Placement

Rhea-AI Summary

Grand Peak Capital Corp. has successfully closed a non-brokered private placement, issuing 50,000,000 common shares at CAD $0.01 per share, raising CAD $500,000 for working capital.

Surrey, British Columbia, April 18, 2024 (GLOBE NEWSWIRE) -- Grand Peak Capital Corp. (“Grand Peak” or the “Company”) (CSE: GPK, FSE: 6GP1 OTC: GPKUF) is pleased to announce that, further to its news release of March 7, 2024, it has closed its non-brokered private placement and issued a total of 50,000,000 common shares at a price of CAD $0.01 per share (the “Share”) raising gross proceeds of CAD $500,000 (the “Financing”). The Shares issued pursuant to the Financing are subject to a statutory hold which expires on August 19, 2024. The proceeds of the Financing will be used for working capital.

ON BEHALF OF THE BOARD

For further information about the Company or this news release, please visit www.sedarplus.ca under the Company’s profile.

Contact: Sonny Janda, Director
Email: sonny@grandpeakcapital.com

The information in this news release may include certain information and statements about management’s view of future events, expectations, plans and prospects that may constitute forward-looking statements. Forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although the Company believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedarplus.ca and readers are urged to read these materials. The Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the united states securities act of 1933, as amended, and may not be offered or sold in the united states or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such act.

FAQ

What type of private placement did Grand Peak Capital Corp. close?

Grand Peak Capital Corp. closed a non-brokered private placement.

How many common shares were issued in the private placement?

Grand Peak Capital Corp. issued a total of 50,000,000 common shares.

At what price were the common shares issued?

The common shares were issued at a price of CAD $0.01 per share.

How much did Grand Peak Capital Corp. raise through the private placement?

Grand Peak Capital Corp. raised gross proceeds of CAD $500,000.

What is the intended use of the proceeds from the private placement?

The proceeds from the private placement will be used for working capital.