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Great Bear Announces Private Placement

December 13, 2017 – Vancouver, BC, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today announced that, subject to regulatory approval, it will undertake a non-brokered private placement consisting of both non-flow-through and flow-through unit offerings.

Each non-flow-through unit (each, a “NFT Unit”) will be issued at a price of $0.30 and will consist of one common share and one-half-of-one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.42 per share for a period of twenty-four (24) months.  The common share purchase warrants will be subject to acceleration at the Company’s discretion in the event the Company’s common shares trade on a volume weighted average price (VWAP) basis of $0.50 or more for a period of ten consecutive trading days

Each flow-through unit (each, a “FT Unit”) will be issued at a price of $0.35 and will consist of one common share and one-half-of-one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.42 per share for a period of twenty-four (24) months.  The common share purchase warrants will be subject to acceleration on the same terms as the NFT Unit warrants.

The Company will issue up to 2,500,000 NFT Units and up to 714,286 FT Units for gross proceeds of up to $1,000,000.  The securities issued by Great Bear in connection with the private placement will be subject to a four month hold period as prescribed by applicable securities laws.  Insiders may participate for a portion of the placement.  Finder’s fees may be payable as part of this transaction.

The Company plans to begin Phase 2 drilling of its Dixie Lake gold project, located in the Red Lake district of Ontario, in January 2018.  Proceeds will be used to support this work, and for general working capital purposes

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 any jurisdiction in which such offer, solicitation or sale would be unlawful.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for Great Bear, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of technical information contained in this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

 

“Chris Taylor”                               

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

info@greatbearresources.ca

www.greatbearresources.ca\

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

 

Great Bear Completes $420,000 Private Placement

July 31, 2017 – Vancouver, BC, Canada – Great Bear Resources Ltd. (the “Company” or “Great Bear”, TSX-V: GBR) today announced it has closed a non-brokered private placement for gross proceeds of $420,000.

The Company has issued 1,680,000 units at a price of $0.25, with each unit consisting of one common share and one half of one common share purchase warrant entitling the holder to acquire one additional common share at a price $0.35 per share for a period of twenty-four (24) months.  The securities issued by Great Bear in connection with the private placement will be subject to a four month hold period as prescribed by applicable securities laws.  The common share purchase warrants are subject to acceleration at the Company’s discretion subsequent to expiration of the initial hold period, in the event the Company’s common shares trade on a volume weighted average price (VWAP) basis of $0.45 or more for a period of ten consecutive trading days.  Insiders participated for a portion of the placement.

Proceeds will be used to advance the Company’s projects in the Red Lake district of Ontario, as well as for general working capital purposes.  The private placement is subject to Exchange approval.

Great Bear’s principal assets are the Dixie Lake and West Madsen gold projects located in the Red Lake district of Ontario.  The Dixie Lake project is road-accessible and consists of a from-surface structurally-controlled gold mineralized zone with over 1.5 kilometres of strike length and over 160 drill holes with mineralization from surface to over 500 vertical metres depth, which remains open to extension along strike and at depth.  The West Madsen properties are also road-accessible and consist of two claim blocks located along the strike-extension of regional structures that control gold mineralization at the nearby Madsen mine of Pure Gold Mining Inc. (TSX-V: PGM).

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 any jurisdiction in which such offer, solicitation or sale would be unlawful.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-646-8354, or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

 

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

Inquiries:

Tel: 604-646-8354

Fax: 604-646-4526

info@greatbearresources.ca

www.greatbearresources.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor

 

 

Great Bear to Acquire 100 Percent of West Madsen Gold Project in Red Lake Gold District

November 23, 2016 – Vancouver, BC, Canada. – Great Bear Resources (the “Company” or “Great Bear”, TSX-V: GBR) today announced the signing of a purchase agreement to acquire 100 percent ownership of the West Madsen gold project in the Red Lake Gold District of Ontario.

Key features of the West Madsen Project are:

  • Agreement to earn 100% ownership from the underlying property vendor
  • Newly identified geological continuity of the Balmer assemblage greenstone belt which hosts the adjacent historical Madsen and Starratt Olsen mines
  • Recent logging road construction has opened the area to cost-effective exploration for the first time
  • Property comprises two claims blocks, the eastern of which is situated 3 kilometres to the west of Pure Gold Mining’s (TSX-V: PGM, “Pure Gold”) Madsen property; each block is roughly 6 kilometres by 3 kilometres in size, for a total area of 2000 hectares
  • Total purchase cost of $70,000 cash and 100,000 shares over four years

Great Bear has nearly doubled its road accessible land position in the Red Lake District with this latest acquisition.  Together with the Dixie Lake Project, Great Bear now has agreements in place to control 3750 hectares of the prospective greenstone belts which host all of the active mines and past producers in the Red Lake district.  The Dixie Lake project has returned significant high grade gold intercepts from shallow historical drilling and contains numerous drill ready targets.  The West Madsen project lies within a newly recognized extension of the same greenstone belt which hosts Pure Gold’s Madsen project, where a 77,000 metre drill program is now in progress.

“Prolific gold endowment and infrastructure advantages make the Red Lake district one of the outstanding gold mining regions of North America,” said Chris Taylor, CEO of Great Bear, “With a steady stream of excellent results being generated by Pure Gold at Madsen, the on strike extensions of those gold-hosting units and major control structures including recently mapped folded mafic sequences make the West Madsen property an obvious target for exploration.”

The Agreement

Under the terms of the Agreement, Great Bear must issue 100,000 shares and pay a total of $70,000 to the project vendor, a private individual, according to the following schedule:

  • On signing: pay $12,000 and issue 100,000 shares (paid)
  • On first anniversary: pay $10,000
  • On second anniversary: pay $12,000
  • On third anniversary: pay $16,000
  • On fourth anniversary: pay $20,000

The property is subject to a 1.5% net smelter return (“NSR”), half of which can be bought for $500,000.  Great Bear has a right of first refusal on the sale of the remaining 0.75% NSR.  The property is in good standing for two years following the date of signing.

Figure 1: Great Bear’s West Madsen property, showing the east and west blocks

 West Madsen

Figure 2: Great Bear’s Red Lake properties are located on the district’s primary greenstone belts

GBR Properties

About Great Bear

Great Bear’s assets are the 50% owned BA and Surprise Creek zinc-silver-lead properties in the Golden Triangle region of British Columbia, and the Dixie Lake and West Madsen properties in the Red Lake district of Ontario, where it is respectively purchasing a 67% and 100% interest.

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 any jurisdiction in which such offer, solicitation or sale would be unlawful.

Mr. R. Bob Singh, P.Geo, Director and VP Exploration for GBR, is the Qualified Person as defined by National Instrument 43-101 responsible for the accuracy of this news release.

For further information please contact Mr. Chris Taylor, P.Geo, President and CEO at 604-681-0037 or Mr. Knox Henderson, Investor Relations, at 604-551-2360.

ON BEHALF OF THE BOARD

“Chris Taylor”                                  

Chris Taylor, President and CEO

info@greatbearresources.ca

www.greatbearresources.ca

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.

We seek safe harbor