Vancouver, British Columbia (FSCwire) - FIORE EXPLORATION LTD. (TSXV: F.V) (OTCQB:FIORF) ("Fiore"). Fiore is pleased to announce that is has amended the terms of its subscription receipt financing which was previously announced on June 15, 2017 to now include a share purchase warrant. The financing, which is being done concurrently with Fiore’s business combination with GRP Minerals Corp. consists up to $17 million of subscription receipts. Each subscription receipt will convert immediately prior to completion of the business combination into one unit of Fiore, each unit now consisting of one common share and one share purchase warrant exercisable for a period of three years from completion of the business combination into a common share of Fiore at $0.45 per share.
The net proceeds will be used for expansion of the Pan Mine leach pads, drilling at both Pan and Gold Rock, general corporate expenses, working capital and production expansion. Proceeds from the financing will be placed in escrow pending completion of the business combination and satisfaction of the escrow release conditions.
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, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 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.
