Garibaldi Closes $13 Million Financing
Vancouver, British Columbia, May 7, 2018 - Garibaldi Resources (TSX.V: GGI) (the "Company" or "Garibaldi") is pleased to announce the closing of an over-subscribed non-brokered private placement with strategic investors for gross proceeds of $13,052,772 (CDN). The flow-through financing was priced at $3.35 per share (see April 17, 2018 news release).
The Company will issue a total of 3,896,350 shares. All shares from the private placement are subject to a four-month hold period from the date of issuance. A finder's fee commission of $150,388.63 was paid on a portion of the placement and is subject to TSX Venture approval.
Proceeds from the financing will be used to further advance the Company's 100%-owned E&L Nickel Mountain Project in the prolific Eskay Camp.