Galore Announces Flow-Through Offering
November 04 2011 - 9:30AM
Marketwired
Galore Resources Inc. (TSX VENTURE:GRI) announces a non-brokered
private placement of up to 730,333 flow-through shares at $0.15 per
share with an overallotment option of an additional 15%. Proceeds
of the financing will be used to carry out an airborne survey on
the Company's Taseko property in southwestern British Columbia. The
Company has contracted Geotech Ltd. of Aurora, Ontario to complete
a 920-line-kilometre ZTEM airborne survey over key exploration
targets on its Taseko property.
Geotech Ltd.'s ZTEM system relies upon the naturally occurring
electromagnetic fields as the source electromagnetic field. The
airborne sensor measures the low-frequency response to this source
field and through data processing, maps the resistive highs and
lows to depths greater than one kilometer.
No commissions or compensation options will be paid in respect
to the offering and, if the entire offering is subscribed, the
Company will raise approximately $110,000. The financing is subject
to regulatory approval.
Galore Resources is a British Columbia-based exploration company
that has assembled a leading group of industry professionals to
acquire and explore for promising deposits with an emphasis on gold
in Mexico and base metals in British Columbia.
Michael W. Byrne, President
For progress updates and queries on Galore Resources Inc. (TSX
VENTURE:GRI) please contact: Erica C Bearss, MBA
"Explore. Drill. Discover"
Cautionary Note Regarding Forward-Looking Information: The
Company expressly warns readers not to rely on the information
herein for investment or other related purposes. Accordingly, any
use of this information is at your own risk and without liability
to the company. The information contained herein is not, and under
no circumstances is to be construed as either a public or a private
offer or solicitation to purchase securities in the capital stock
of Galore Resources Inc. The reader is referred to his/her
professional investment advisor regarding investment or related
decisions respecting the securities of the company.
No securities commission or similar regulatory authority has
passed on the merits of or reviewed the information contained
herein. 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.
Contacts: Galore Resources Inc. Erica C Bearss, MBA, Vice
President Corporate Communications 604-647-2298 or Toll Free:
1-877-647-2298 Skype: 1-206-388-2423 604-647-0086
(FAX)ebearss@galoreresources.comwww.galoreresources.com
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