SOURCE: Great Quest Fertilizer Ltd.

Great Quest Fertilizer Ltd.

September 08, 2015 09:00 ET

Great Quest Announces $200,000 Private Placement

Not for distribution to U.S. news wire services or dissemination in the United States.

VANCOUVER, BC--(Marketwired - September 08, 2015) - Great Quest Fertilizer Ltd (TSX VENTURE: GQ) (FRANKFURT: GQM) (“the Company”) is pleased to announce that it intends to carry out, subject to approval from the TSX Venture Exchange (the "TSX-V"), a non-brokered private placement, on a "best efforts" basis, for gross proceeds of up to $200,000 (the "Private Placement"). The Private Placement will consist of 666,667 units of the Company (each, a "Unit), at a price of $0.30 per Unit. Each Unit shall consist of one common share in the capital of the Company (each a "Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant shall entitle the holder to purchase one common share in the capital of the Company (a "Warrant Share") at a price of $0.50 per Warrant Share on or before May 20, 2020. All of the securities issued pursuant to the Private Placement will be subject to a four month and one day hold period from the date of issue.

The net proceeds from the Private Placement will be used for costs related to the Tilemsi Phosphate Project in Mali and working capital.

Subscriptions from participating insiders, if any, will be considered to be a related party transaction within the meaning of Exchange Policy 5.9 and Multilateral Instrument 61-101 ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of any insider participation.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Great Quest

Great Quest Fertilizer Ltd. is a Canadian mineral exploration company focused on the development of African agricultural mineral projects for local production of farm ready fertilizers. The Company’s flagship asset is the Tilemsi Phosphate Project, encompassing 1,206 km² in northeastern Mali, containing high quality phosphate resources amenable to use as direct application fertilizer. Great Quest is listed on the TSX Venture Exchange under the symbol GQ, and the Frankfurt Stock Exchange under the symbol GQM.

ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST FERTILIZER LTD.

“Jed Richardson”

President, Chief Executive Officer and Director

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release. The statements that are not historical facts and are forward-looking statements involving known and unknown risks and uncertainties could cause actual results to vary materially from the targeted results. We seek safe harbor.

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