Gold Reach Resources Ltd.

TSX VENTURE : GRV


Gold Reach Resources Ltd.

March 25, 2014 09:30 ET

Gold Reach Resources Ltd. Announces $2,400,000 Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 25, 2014) - Gold Reach Resources Ltd. (the "Company") (TSX VENTURE:GRV) announces it has arranged a non-brokered private placement offering (the "Offering") of 3,000,000 units ("Units") at a price of $0.80 per Unit raising gross proceeds of $2,400,000. Each Unit is comprised of one common share of the Company and one non-transferable common share purchase warrant ("Warrant"). Each warrant entitles the holder thereof to purchase one common share of the Company, for 24 months, at an exercise price of $1.10 per share in the first year and $1.25 per share in the second year after the closing date of the Offering.

Each Warrant will be subject to accelerated expiry provisions which provide that if at any time after the date of closing of the Offering, the Company's common shares trade on the TSX Venture Exchange at or above a weighted average trading price of $1.35 per share for 10 consecutive trading days and in the second year a weighted average trading price of $1.50 per share for 10 consecutive trading days, the Company may give notice to the holders that each Warrant will expire 30 days from the date of providing such notice if the Warrant has not been duly exercised by the holder.

The proceeds of the private placement will be used for the purpose of carrying out the exploration programs on the Company's British Columbia property and for general working capital.

The Company may issue finder's fees in connection with this offering of 7% cash and 7% warrants.

The Offering and finder's fees are subject to the acceptance of the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF DIRECTORS

Conrad Swanson, Chairman

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.

Safe Harbor Statement: The Company relies upon litigation protection for "forward-looking statements." The Company undertakes no obligation to update these forward- looking statements in the managements beliefs, estimates obligations or other factors should change.

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