BURLINGTON, ONTARIO--(Marketwired - March 7, 2016) - GTA Resources and Mining Inc. (TSX VENTURE:GTA) announces a new relationship with Stockhouse Publishing Ltd. based on Ontario's recent prospectus exemptions. GTA will use Stockhouse's Deal Room to access Stockhouse's pre-cleared list of roughly 16,000 accredited investors.
An overview of how the Deal Room works can be found at Stockhouse's website (http://www.stockhouse.com/corporate/deal-room-placements). Stockhouse is not registered as a broker, dealer, exempt market dealer, or any other registrant in any securities regulatory jurisdiction and will not be performing any registerable activity as defined by the applicable regulatory bodies.
"We are very excited about being the first resource company in Stockhouse's Deal Room," said Wayne Reid, GTA's Chief Executive Officer. "Stockhouse is one of Canada's premier online investor communities that connect active investors and small cap public companies and a strategic partner for us to work with on the next stage of GTA's growth."
"GTA is a progressive Canadian resource company, and Stockhouse is pleased that GTA's upcoming Private Placement will be the first Resource financing published in the Stockhouse Deal Room. The Deal Room was created to give online investors access to quality deals, and this GTA Resources raise coincides with exciting corporate news, rising gold prices, and renewed investor interest-a good mix."
GTA's main focus will be on its Ivanhoe Project in northern Ontario. This project is located on the eastern extension of the Borden Lake Gold Zone trend and the eastern extension of the Porcupine-Destor fault. In 2015, the Borden Lake property was purchased by Goldcorp Inc. from Probe Mines Ltd for USD$440 million. In March 2015, Probe and Goldcorp reported that the Borden Gold project currently has reported underground constrained indicated resources of 1.6 million ounces of gold (9.3Mt @ 5.39g/t) and inferred resources of 0.4 million ounces of gold (3Mt @ 4.37g/t) at a 2.5g/t gold cut-off grade. The deposit remains open down plunge.
GTA intends to carry out an exploration program, including diamond drilling at Ivanhoe to test new gold showings discovered over the past year and to further its knowledge of the property.
To support that program, GTA announces a non-brokered financing of $250,000, for 5,000,000 units. The subscription price per unit is 5 cents. Each unit will consist of one flow-through common share and one 12 month warrant with an exercise price of 6 cents. Closing will take place as soon as reasonably possible following regulatory approval.
GTA is publicly traded mineral exploration company. It is led by an experienced and successful management team and is focused on exploring for gold and graphite in Canada. GTA is a tightly held company having 33,306,855 shares outstanding of which insiders control approximately 21%. The Company's shares trade on the TSX Venture Exchange under the symbol "GTA." The Company currently has three projects located in northern Ontario: the 51% owned Northshore Project, near Schreiber; the 100% owned Auden Project near Hearst; and, the Ivanhoe Project near Folyet, in which it has an option to acquire a 100% interest. GTA also has the Burnt Pond Project in central Newfoundland, proximal to the producing Duck Pond Cu-Zn Mine.
On behalf of the board of directors
GTA Resources and Mining Inc.
Wayne Reid, President and CEO
For more information, please visit the corporate website at www.gtaresources.com.
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.