SASKATOON, SASKATCHEWAN--(Marketwired - Sept. 26, 2017) - GESPEG COPPER RESOURCES INC. (TSX VENTURE:GCR) (the "Company" or "Gespeg") announces signing of a 75 days binding letter of agreement (the "Agreement") with DNA Canada Inc. following the last letter of agreement announced on June 8th 2017.
The Company announces that it will proceed with a non-brokered private placement of up to 13,333,333 units of the Company (the "Units") at $0.06 per Unit and up to 6,250,000 flow-through common shares in the capital of the Company (the "FT Shares") at $0.08 per FR Share for gross proceeds of up to $1,300,000 (the "Offering").
Each Unit will consist of one common share in the capital of the Company (a "Share") and one-half of a share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company (a "Warrant Share") at a price of $0.10 per Warrant Share for a period of 36 months from the closing of the Offering.
About Gespeg Copper Resources Inc.: Gespeg is an exploration company with a focus on copper, especially in a grossly underexplored region "Gaspé, Québec". With a dedicated management team, the Company's goal is to create shareholder wealth through the discovery of new deposits.