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GESPEG CLOSES FIRST TRANCHE OF NON-BROKERED PRIVATE PLACEMENT
Saskatoon, Saskatchewan, October 18th, 2017 – GESPEG COPPER RESOURCES INC. (TSX-V:GCR) (the “Company” or “Gespeg”) announces that it has completed the first tranche of its private placement (the “Offering”) and has raised gross proceeds of $94,000. The first tranche closing consisted of 733,333 units (the “Units”) at a price of $0.06 per Unit. Each Unit consists of one common share in the capital of the Company (a “Share”) and one-half of one share purchase warrant (a “Warrant”). Each full Warrant will entitle the holder to purchase one Share at a price of $0.10 exercisable until October 17th, 2020 and 624,750 flow-through shares (the “FT Shares”) at $0.08. A finder’s fee will be paid to Raymond James Ltd. for the amount of $2940.00 and 37,188 broker warrants issued at a price of 0.10 exercisable until April 17th, 2019. The Company anticipates a second closing in October 2017 (the “Second Tranche”).
The proceeds of this first tranche will be for the drilling program on Tetrault 1, Tetrault 2, and Anacon Lead 2 tailings projects situated in the Notre-Dame de Montauban region.
Mr Vincent Jourdain of MRB & Associates has been retained to execute the NA 43-101. Mr. Jourdain already executed the NA 43-101 on Anacon 1 tailing project in 2012. Mr.Jourdain has done his Master degree and a PhD on the Montauban deposit and also worked several years for different mining companies in the sector.
About Gespeg Copper Resources Inc.: Gespeg is an exploration company with a focus on copper, especially in a grossly underexplored region “Gaspé, Québec”. With a dedicated management team, the Company’s goal is to create shareholder wealth through the discovery of new deposits.
GESPEG COPPER RESOURCES INC.
(signed) “Sylvain Laberge”
President and CEO
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