Gold Reach Increases Private Placement
December 24, 2009: Vancouver B.C.: Gold Reach Resources Ltd (“Company”) (GRV: TSX-V) is pleased to announce that the private placement previously announced on November 16, 2009 has been oversubscribed. The Company has amended the financing subject to TSX approval to increase the financing from 3 million units to 3,756,875 to raise gross proceeds of $601,100. The money will be used for general working capital and there were no finder’s fees payable on the transaction.
Each unit in the financing consists of one common share and one common share purchase warrant to purchase an additional common share in the Company for a period of 2 years at an exercise price of $0.25 cents. All securities issued are subject to a four month hold period and cannot be resold until March 24, 2009
About Gold Reach:
Gold Reach Resources Ltd. is a Canadian exploration company actively involved in the development of the Seel and Ox Lake projects, a 17,149.5 hectare copper-gold-molybdenum-silver project located 120 kilometres south of
ON BEHALF OF THE BOARD OF DIRECTORS
For further information, please contact: 604-718-5454
Safe Harbour Statement: The Company relies upon litigation protection for “forward looking statements.”
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