Gold Reach Resources Ltd. Announces $1,200,000 Non-Brokered Flow-Through Private Placement
June 1, 2011
Vancouver, B.C. – Gold Reach Resources Ltd., (the "Company") (GRV: TSX-V), announces it has arranged a non-brokered flow-through private placement Unit Offering ("FT Units") of up to 2,000,000 FT Units, raising gross proceeds of $1,200,000. Each FT Unit, priced at $0.60 per each FT Unit, is comprised of one common share of the Company, intended to qualify as a flow-through share under the Income Tax Act (Canada), and one non-transferable common share purchase warrant ("NFT Warrants') entitling the holder thereof to purchase one additional non-flow through common share of the Company at an exercise price of $0.90 per share for a period of two years from the closing date of the FT Unit offering.
The proceeds of this private placement will be used for the purpose of carrying out the exploration programs on the Company's Canadian properties.
The foregoing is subject to regulatory approval.
ON BEHALF OF THE BOARD OF DIRECTORS
President & CEO
For further information, please contact:
Gold Reach Resources
Toll Free: 888-500-4587
Neither the 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.