Vancouver, British Columbia – TheNewswire - September 11, 2024 - GSP Resource Corp. (TSX-V: GSPR) (the “Company” or “GSP”) announces that it intends to complete a non-brokered private placement (the “Private Placement”) of up to 5,000,000 units (each a “Unit”) at a price of $0.10 per Unit for gross proceeds of up to $500,000. Each Unit consists of one common share and one-half of one common share purchase warrant (the “Warrants”). Each whole Warrant entitles the holder to purchase one common share of the Company at a price of $0.15 per share for a period of two (2) years following the date of issuance.
In connection with the Private Placement, the Company may pay finders’ fees in cash or securities, or a combination of both, as permitted by the policies of the TSX Venture Exchange (the “Exchange”) and applicable securities laws. All securities issued pursuant to the Private Placement will be subject to a four-month hold period. The Private Placement is subject to approval by the Exchange.
The Company intends to use the net proceeds of the Private Placement towards exploration and development work on the Alwin Mine Copper-Silver-Gold Project and for general working capital purposes