Galore Announces Flow-Through Offering
November 04 2011 - 9:30AM
Marketwired Canada
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.
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