Vancouver, British Columbia – December 18, 2017 – Glacier Lake Resources Inc. TSXV: GLI – (the “Company”) is pleased to announce that it intends to conduct a non-brokered private placement for gross proceeds of up to $650,000 through the issuance of non-flow-through units (the “Non-Flow-Through Units”) at a price of $0.06 per Non-Flow-Through Unit, and flow-through units (the “Flow-Through Units”) at a price of $0.08 per Flow-Through Unit. Each Non-Flow-Through Unit will consist of one common share of the Company and one common share purchase warrant entitling the holder to purchase one additional share at a price of $0.15 for a period of twenty-four (24) months. Each Flow-Through Unit is comprised of one common share and one common share purchase warrant entitling the holder to purchase one additional share at a price of $0.15 for a period of twenty-four (24) months.
The Company anticipates utilizing the proceeds of the private placement for a planned drill program on its Silver Vista project located near Smithers, British Columbia, and for general working capital purposes. In connection with the private placement, the Company may pay finder’s fees to eligible persons introducing subscribers to the Company. All securities issued in connection with the private placement will be subject to a four-month-and-one-day statutory hold period. Closing of the private placement remains subject to final approval of the TSX Venture Exchange.
On behalf of the Board of Directors
GLACIER LAKE RESOURCES INC.
President, Chief Executive Officer, Director
FOR ADDITIONAL INFORMATION PLEASE CONTACT:
Glacier Lake Resources Inc.
Please visit our Website at: www.glacierlake.ca