Great Bear Resources Ltd. GTBAF

Metals & Mining Gold

Great Bear Resources Ltd. is a Vancouver-based gold exploration company focused on advancing its 100% owned Dixie project in Northwestern Ontario, Canada. A significant exploration drill program is currently underway to define the mineralization within a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault. Additional exploration drilling is also in progress to expand and infill nearby high-grade gold zones, as well as to test new regional targets.

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Great Bear Resources Ltd. > Nope to US individuals in GB Royalty Rights Issue

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Comment by Ivorygullon Oct 16, 2020 11:32pm

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Post# 31733537

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Nope to US individuals in GB Royalty Rights Issue

Hi eatmorefiber2, this board is as you say, for us to provide each other with information and to help each other out. Sorry if when I suggested that you talk to GBRC, that you felt I was telling you to bring it to them and not bother here. I only suggested it to help you get an answer to the problem.

Thanks for this post. The person who wrote that letter has a very good point.

Why really are the three directors getting any warrants?

They already own 4.5% of GBRC.

They are getting them because they are allowing us to be able to buy a share for .15 cents. Why?

What is it that they will actually have done to earn those warrants?

If the answer is that GBRC will now have value, that will occur by the simple fact that we purchase the Shares.

It's not as if they will be doing a lot of managerial work, and expediting the actual implimentation of the 2% NSR, as that is a long way off. I agree with what is said, and that is, it appears they are taking advantage of this Rights Offering, to have even more ownership in GBRC.

At a time when GBRC is just about to start out, this sends a bad vipe to the retail shareholders, especially when they already got 4.5% of the company when it was created. Down the road, if they bust their balls off to help make this into something like one of the large Royalty Companies out there, then I can see them getting rewarded, but for now, for doing nothing, that is just plain wrong.

eatmorefiber2 wrote:
It appears you Canadian blokes are also impacted as you will be diluted. This fellow from thte CEO board encapsulates the issues:

https://cdn.ceo.ca.s3-us-west-2.amazonaws.com/1fohmm0-GBRC%20insiders%20acting%20against%20the%20interests%20of%20shareholders_B_.pdf

What is stopping the GBRC directors from further diluting us?

Sure, I can take it to the company, but obviously this is a message board and the entire purpose of a message board is to disseminate information broadly to all shareholders. Strength in numbers and all that...