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

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Grande Portage Resources (TSXV:GPG)(OTCQB:GPTRF) announces a non-brokered private placement of up to 10,000,000 units at C$0.30 per unit to raise up to C$3,000,000. Each unit includes one common share and one warrant exercisable at C$0.45 for 24 months. Red Cloud Securities will act as finder, receiving 7% cash compensation and 7% finder warrants exercisable at C$0.30 for 24 months. The offering, closing in multiple tranches between November 12-30, 2024, will fund exploration of the New Amalga Mine project in Alaska and working capital. The units will not be subject to statutory hold period in Canada under LIFE Exemption.

Grande Portage Resources (TSXV:GPG)(OTCQB:GPTRF) annuncia un collocamento privato non intermediato di fino a 10.000.000 di unità a C$0,30 per unità, per raccogliere fino a C$3.000.000. Ogni unità comprende un'azione comune e un warrant esercitabile a C$0,45 per 24 mesi. Red Cloud Securities agirà come finder, ricevendo una commissione in denaro del 7% e warrant per finder esercitabili a C$0,30 per 24 mesi. L'offerta, che si chiuderà in più tranche tra il 12 e il 30 novembre 2024, finanzierà l'esplorazione del progetto New Amalga Mine in Alaska e il capitale circolante. Le unità non saranno soggette a un periodo di blocco statutario in Canada secondo l'Esenzione LIFE.

Grande Portage Resources (TSXV:GPG)(OTCQB:GPTRF) anuncia una emisión privada sin intermediarios de hasta 10,000,000 de unidades a C$0.30 por unidad para recaudar hasta C$3,000,000. Cada unidad incluye una acción común y una opción de compra que puede ejercerse a C$0.45 durante 24 meses. Red Cloud Securities actuará como intermediario, recibiendo un 7% de compensación en efectivo y opciones de compra concedidas a C$0.30 durante 24 meses. La oferta, que cerrará en múltiples tramos entre el 12 y el 30 de noviembre de 2024, financiará la exploración del proyecto New Amalga Mine en Alaska y el capital de trabajo. Las unidades no estarán sujetas a un período de retención estatutaria en Canadá bajo la Exención LIFE.

그란데 포타지 리소스(주식코드: GPG)(OTCQB: GPTRF)가 C$0.30의 가격으로 최대 10,000,000 단위를 발행하는 비중개 사모 배정을 발표했습니다. 이를 통해 최대 C$3,000,000를 모금할 계획입니다. 각 단위는 하나의 보통주와 24개월 동안 C$0.45에 행사 가능한 하나의 워런트를 포함합니다. 레드 클라우드 증권사는 7%의 현금 보상과 24개월 동안 C$0.30에 행사 가능한 7%의 파인더 워런트를 수수료로 받을 것입니다. 이 오퍼링은 2024년 11월 12일부터 30일까지 여러 차례에 걸쳐 마감되며, 알래스카의 뉴 아말가 광산 프로젝트 탐사 및 운영 자본을 지원할 것입니다. 이 단위는 캐나다에서 LIFE 면제에 따라 법적 보유 기간의 적용을 받지 않습니다.

Grande Portage Resources (TSXV:GPG)(OTCQB:GPTRF) annonce une placement privé sans intermédiaire d'un maximum de 10 000 000 d'unités au prix de 0,30 C$ par unité, afin de lever jusqu'à 3 000 000 C$. Chaque unité comprend une action ordinaire et un bon de souscription exerçable à 0,45 C$ pendant 24 mois. Red Cloud Securities agira en tant que finder, recevant une compensation en espèces de 7% ainsi que des bons de souscription de 7% exerçables à 0,30 C$ pendant 24 mois. L'offre, qui se clôturera en plusieurs tranches entre le 12 et le 30 novembre 2024, financera l'exploration du projet New Amalga Mine en Alaska et le fonds de roulement. Les unités ne seront pas soumises à une période de blocage statutaire au Canada dans le cadre de l'Exemption LIFE.

Grande Portage Resources (TSXV:GPG)(OTCQB:GPTRF) kündigt eine ungedeckte Privatplatzierung von bis zu 10.000.000 Einheiten zum Preis von 0,30 C$ pro Einheit an, um bis zu 3.000.000 C$ zu beschaffen. Jede Einheit umfasst eine Stammaktie und ein Kaufwarrant, das für 24 Monate zu einem Preis von 0,45 C$ ausgeübt werden kann. Red Cloud Securities wird als Finder agieren und erhält eine Barvergütung von 7% sowie 7% Finder-Warrants, die für 24 Monate zu einem Preis von 0,30 C$ ausgeübt werden können. Das Angebot, das in mehreren Tranchen zwischen dem 12. und 30. November 2024 geschlossen wird, wird die Erschließung des New Amalga Mine Projekts in Alaska und das Betriebskapital finanzieren. Die Einheiten unterliegen in Kanada nicht der gesetzlichen Haltefrist gemäß LIFE-Ausnahme.

Positive
  • Raising up to C$3,000,000 in new capital
  • No statutory hold period for units under LIFE Exemption
  • Proceeds will advance exploration of New Amalga Mine project
Negative
  • 7% finder's fee and warrants represent additional costs
  • Potential dilution for existing shareholders
  • Exercise of warrants at C$0.45 would cause further dilution

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

VANCOUVER, BC / ACCESSWIRE / October 30, 2024 / 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.

Each Unit will consist of one common share in the capital of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Common Share at an exercise price of C$0.45 per Common Share for a period of 24 months from the date of issuance.

The Units issued in the Offering will not be subject to any statutory hold period in Canada, subject to limitations prescribed by the LIFE Exemption.

Insiders and certain other existing shareholders of Grande Portage may also subscribe for Units under the Offering.

Red Cloud Securities Inc. (the "Finder") will act as a finder for the Company in respect of the Offering on a best efforts basis. As compensation for its services, the Finder will receive cash compensation equal to 7% of the gross proceeds of the Offering raised by the Finder. The Finder will also receive non-transferable share purchase warrants (the "Finder Warrants") which will entitle the Finder to acquire such number of common shares as is equal to 7% of the number of Units placed by the Finder. The Finder Warrants will be exercisable at a price of $0.30 per share any time for a period of 24 months from the date of issuance.

Grande Portage intends to use the net proceeds of the Offering for furthering the exploration and development of its New Amalga Mine project in Alaska, including additional drilling, as well as general working capital purposes.

The Offering may close in multiple tranches, with the first tranche closing expected to occur on November 12, 2024, and the final closing to occur no later than November 30, 2024. The Offering is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the acceptance of the TSX Venture Exchange.

The securities issued pursuant to the Offering have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons in the absence of U.S. registration or an applicable exemption from the U.S. registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in the United States or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.

About Grande Portage:

Grande Portage is a publicly traded mineral exploration company focused on the New Amalga Mine project (formerly the Herbert Gold Project) situated approximately 25 km north of Juneau, Alaska. The Company holds a 100% interest in the Herbert property. The New Amalga Mine property 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 eight 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) 899-0106
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

FAQ

What is the size and price of Grande Portage's (GPTRF) private placement announced on October 30, 2024?

Grande Portage announced a private placement of up to 10,000,000 units at C$0.30 per unit, aiming to raise up to C$3,000,000.

What are the warrant terms in Grande Portage's (GPTRF) October 2024 private placement?

Each warrant allows purchase of one additional common share at C$0.45 for 24 months from issuance date.

How will Grande Portage (GPTRF) use the proceeds from its October 2024 private placement?

The proceeds will be used for exploration and development of the New Amalga Mine project in Alaska, including additional drilling, and general working capital purposes.

When is the expected closing date for Grande Portage's (GPTRF) private placement announced in October 2024?

The offering will close in multiple tranches, with first closing expected on November 12, 2024, and final closing by November 30, 2024.

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