{"id":197,"date":"2022-10-26T16:13:25","date_gmt":"2022-10-26T16:13:25","guid":{"rendered":"https:\/\/geologicaresource.com\/?p=197"},"modified":"2022-10-26T16:15:20","modified_gmt":"2022-10-26T16:15:20","slug":"geologica-begins-trading-on-cse","status":"publish","type":"post","link":"https:\/\/geologicaresource.com\/geologica-begins-trading-on-cse\/","title":{"rendered":"Geologica Begins Trading on CSE"},"content":{"rendered":"\n
GEOLOGICA COMPLETES INITIAL PUBLIC OFFERING AND COMMENCES TRADING ON THE CSE<\/strong><\/strong><\/p>\n\n\n\n VANCOUVER, BC, October 25, 2022 \u2013Geologica Resource Corp. (CSE:GRCM) (\u201cGeologica<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) is pleased to announce the successful closing of its initial public offering (the \u201cOffering<\/strong>\u201d) of 6,830,000 common shares of the Company (\u201cShares<\/strong>\u201d) at a price of $0.10 per Share (the \u201cOffering Price<\/strong>\u201d) for gross proceeds of $683,000.<\/p>\n\n\n\n The Shares are expected to commence trading on the Canadian Securities Exchange (the \u201cCSE<\/strong>\u201d) at the market open on October 26, 2022 under the symbol \u201cGRCM\u201d.<\/p>\n\n\n\n Pursuant to an agency agreement dated April 27, 2022, Research Capital Corporation (the \u201cAgent<\/strong>\u201d) acted as agent for the Offering. Geologica has granted the Agent an over-allotment option (the \u201cOver-Allotment Option<\/strong>\u201d), exercisable in whole or in part for a period of 30 days following the closing of the Offering, to sell up to an additional 15% of the Offering at the Offering Price to cover over-allotments, if any, and for market stabilization purposes. In connection with the closing of the Offering, Geologica paid to the Agent a cash commission in the amount of $33,640, as well as a corporate finance fee of $35,000, $10,000 of which was paid was through the issuance of 100,000 Shares, plus applicable taxes paid in cash, in addition to reimbursement of certain expenses. In addition, the Agent and its selling group members received an aggregate 336,400 agent\u2019s warrants to acquire up to 336,400 Shares at the Offering Price until October 25, 2024.<\/p>\n\n\n\n The net proceeds from the Offering will be used to carry out exploration of the Company\u2019s principal project, the Topley Property, located in central British Columbia, in the Omineca Mining Division; to make payments pursuant to the option agreement dated December 19, 2021 as amended in respect of the Topley Property; and for general and administrative purposes and working capital.<\/p>\n\n\n\n The Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the \u201cU.S. Securities Act<\/strong>\u201d), or any state securities laws, and may not be offered or sold, within the United States, unless exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws are available.<\/p>\n\n\n\n No securities regulatory authority has reviewed or approved of the contents of this news release. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Geologica in any jurisdiction in which such offer, solicitation or sale would be unlawful.<\/p>\n\n\n\n All figures are in Canadian dollars unless otherwise stated.<\/p>\n\n\n\n About Geologica Resource Corp.<\/strong><\/p>\n\n\n\n Geologica Resource Corp. is a mineral explorer, building shareholder value through the acquisition of projects with significant technical merit. The Company has an option agreement and a purchase agreement for 100% of the mineral claims known as the Topley Project, located in central British Columbia.<\/p>\n\n\n\n For more information, please refer to the Company\u2019s amended and restated prospectus dated July 22, 2022 available on SEDAR (www.sedar.com), under the Company\u2019s profile or please contact:<\/p>\n\n\n\n