Great Quest Arranges $360,000 Private Placement
VANCOUVER, BC - Willis W. Osborne, President of Great Quest Metals Ltd. (TSXV: GQ; Frankfurt: GQM), is pleased to announce a private placement for 3,000,000 units priced at $0.12 per unit for total proceeds of $360,000, subject to regulatory approval. Each unit consists of one common share of the Company's capital stock and one half of a share purchase warrant. Each full warrant entitles the holder to purchase one additional share of the Company's capital stock at a price of $0.20 for one year from closing. A finder's fee will be paid on a portion of the private placement. All shares issued under this private placement are subject to a four month hold period from closing.
The proceeds will be used for due diligence on a possible new project, drilling on the Taseko property and corporate purposes.
ON BEHALF OF THE BOARD OF DIRECTORS OF GREAT QUEST METALS LTD.
Willis W. Osborne
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The TSX Venture Exchange has neither approved nor disapproved the information enclosed in this release. The statements that are not historical facts and are forward-looking statements involving known and unknown risks and uncertainties that could cause actual results to vary materially from the targeted results.