December 19, 2016 09:00 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 19, 2016) - Gstaad Capital Corp. (the "Company" or "Gstaad") (TSX VENTURE:GTD.H) is pleased to announce the closing of its non-brokered private placement announced on October 19, 2016.
The Company raised gross proceeds of $155,000 through the issuance of 2,583,334 post-consolidated common shares at a price of $0.06 per share.
The shares issued pursuant to this private placement are subject to a hold period expiring April 15, 2017. In addition, 83,334 of the shares will be held in escrow under the Company's CPC escrow agreement dated February 4, 2011, as amended May 9, 2011.
The proceeds from the private placement will be used for general working capital purposes and to fund the acquisition of a Qualifying Transaction.
On behalf of Gstaad Capital Corp.
Paul Larkin, President and Chief Executive Officer
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.
Gstaad Capital Corp.Paul Larkinplarkin@pro.net604 687 7767604 688 9895 (FAX)
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