TORONTO, ONTARIO – July 14, 2015 – Greatbanks Resources Ltd., (“Greatbanks” or the “Company”) (formerly Invenio Resources Corp.), (TSX.V: GTB), is pleased to announce that it has closed a non‐brokered private placement offering (the "Offering") for aggregate gross proceeds of $343,310. The Company issued an aggregate of 6,866,200 units (each, a "Unit"), at a price of $0.05 per Unit. Each Unit consists of one common share of the Company (a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share of the Company at a price of $0.08 until July 10, 2018.
In connection with the Offering, the Company paid an aggregate amount of $1,600 in cash finder’s fees to a certain eligible arm's length person and issued 32,000 non‐transferable finder’s warrants (the "Finder’s Warrants") to an eligible arm's length finder. Each Finder’s Warrant is exercisable into a common share at an exercise price of $0.05 per common share for a period of twelve (12) months from the closing of the Offering.
All securities issued pursuant to the Offering, including the Common Shares and Warrants comprising the Units, the Common Shares underlying the Warrants, the Finder’s Warrants, and the securities underlying the Finder’s Warrants, are subject to a four (4) month and one (1) day statutory hold commencing from closing of the Offering. The Offering is subject to TSX Venture Exchange acceptance of requisite regulatory filings. The net proceeds raised from the Offering will be used for general working capital.
Greatbanks is a mining and resource issuer based in Vancouver, Canada. The Company will be focused on identifying assets and opportunities that meet the following criteria, production, near term production, enhanced exploration and special situations demonstrating a potential unique growth.
Issued on behalf of the Board of Directors of Greatbanks Resources Ltd.
Andrew Male, President
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. This news release may contain certain forward‐looking information. All statements included herein, other than statements of historical fact, is forward‐looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward‐looking information and a description of risk factors that may cause actual results to differ materially from forward‐looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward‐looking information except in accordance with applicable securities laws.