Graycliff Exploration Limited announced that it expects to receive CAD 0.65 million in funding
On the same date, the company issued 2,950,000 units for gross proceeds of CAD 590,000 in its first tranche closing. The Company will pay a cash finders' fee of CAD 32,000 and issue 160,000 finders' warrants, representing 8% cash and 8% finder's warrants. Completion of the private placement and payment of any finders' fees remain subject to the receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange. In accordance with applicable Canadian securities laws, all securities issued pursuant to the private placement will have a hold period of four months and one day from the date of issuance.