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GTA Announces Closing of Private Placement and Provides Operational Update

Burlington, Ontario–(Newsfile Corp. – December 18, 2017) – GTA Resources and Mining Inc. (TSXV: GTA) is pleased to announce that it has closed on non-brokered private placement financing previously announced on August 30, 2017 and updated on September 26, 2017. The Financing consisted of Common Units and Flow-through Units.

The first tranche of the financing consisted of 1,000,000 flow-through share units (“Flow-through Units”) for gross proceeds of $50,000, at a price of $0.05 per Flow-through Unit, with each Flow-through Unit consisting of one flow-through share and one common share purchase warrant. Each warrant will be exercisable for one common share at a price of $0.06 for a period of 12 months from the date of closing of the financing. A finder’s fee of $2,000 and 50,000 broker warrants was paid in relation to this round.

The second tranche of financing included the issuance of 700,000 Common Units and 900,000 Flow-through Units, for total proceeds of $80,000 from only this round. A finder’s fee of $4,550 and 91,000 broker warrants was paid in relation to this round.

The third tranche of financing included the issuance of 700,000 Common Units and 4,720,000 Flow-through Units, for total proceeds of $271,000 from the third round. Finders’ fees of $13,020 and 140,000 broker warrants were paid in relation to this round.

GTA will use the proceeds of the flow-through financing to fund exploration activities on the Big Duck Lake Gold Project, owned 100% by GTA, and proceeds from hard dollar financing for general corporate purposes.

Following these transaction there are 50,256,855 GTA common shares issued and outstanding.

In addition, GTA has completed its initial drilling program at Big Duck Lake and drill core has been submitted to the lab with results expected in early January 2018.

About GTA

GTA is a well funded publicly traded mineral exploration company. It is led by an experienced and successful management team and is focused on exploring for gold in Canada. The Company’s shares trade on the TSX Venture Exchange under the symbol “GTA”.

GTA currently has four projects, including the 100% owned Big Duck Lake Gold Project located east of Thunder Bay and west of Hemlo, the 54%-owned Northshore Gold Project located east of Thunder Bay and west of Hemlo, the 100%-owned Auden Project near Hearst, Ontario; and, the 100%-owned zinc Burnt Pond Project in Newfoundland, proximate to the former producing Duck Pond Mine (copper – zinc).

On behalf of the board of directors
GTA Resources and Mining Inc.

Peter M Clausi

President and CEO
(416) 890-1232
Email: [email protected]

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 press release.

This press release contains forward-looking statements and forward-looking information (collectively, “forward looking statements”) within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company’s expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company’s projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company’s ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company’s ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company’s ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company’s public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company’s mineral properties.

This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.


Disclaimer: This is an unedited and minimally reviewed public mining company press release originally published at http://www.newsfilecorp.com/release/31418/GTA-Announces-Closing-of-Private-Placement-and-Provides-Operational-Update. We have linked to our knowledge base articles from within the content of this release in order to help explain some of the terminology used and provide continuity from previous and related news coverage. You can access more in-depth mining company project reviews on our site, as well a knowledge base of articles on mineral exploration, mining and geology-related topics.

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