Galleria Opportunities Ltd.
TSX VENTURE : GOI.H
NEX BOARD : GOI.H

August 24, 2015 17:39 ET

Galleria Opportunities Ltd. Announces Closing of Private Placement

CALGARY, ALBERTA--(Marketwired - Aug. 24, 2015) -

NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA

Galleria Opportunities Ltd. ("Galleria" or the "Corporation") (NEX:GOI.H) announces that, further to its press releases dated May 25, 2015 and July 28, 2015, the Corporation has completed its private placement and has issued 4,000,000 common shares of the Corporation (the "Common Shares") at a price of $0.125 per share for gross proceeds of $500,000 (the "Private Placement"). The net proceeds of the Private Placement will be used for general working capital purposes.

The Corporation paid finder's fees in respect of the Private Placement to eligible parties in the aggregate amount of $31,781.25 and issued an aggregate of 362,500 warrants ("Broker Warrants"). Each Broker Warrant entitles the holder to acquire one Common Share at a price of $0.125 per share for a period of 1 year from the date of issue.

The securities issued are subject to a four month and one day hold period. The Private Placement remains subject to final approval of the NEX.

The Corporation also announces that it has issued 295,000 stock options to existing directors, officers and consultants of the Corporation. Each stock option entitles the holder to acquire one Common Share at a price of $0.165 per share for a period of 5 years from the date of issue.

Cautionary Statements

This news release contains "forward-looking information" within the meaning of applicable securities laws, including statements regarding the terms and conditions of the Private Placement. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because the Corporation can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the failure to obtain the required approvals or clearances from regulatory authorities. The statements in this press release are made as of the date of this release. The Corporation undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of the Corporation.

Neither TSX Venture Exchange (nor any of its separate boards which includes the NEX) nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

The common shares have not been and will not be registered under the United States Securities Act of 1933, as amended and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirement. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Contact Information

  • Galleria Opportunities Ltd.
    Al J. Kroontje
    President and Chief Executive Officer
    (403) 539-4447