Gatling Closes Final Tranche of Placement
Vancouver, British Columbia, November 30, 2018 – GATLING EXPLORATION INC. (TSXV GTR) (“Gatling” or the “Company”) announces that further to its news release of November 23, 2018, it has closed the final tranche of its private placement in the amount of 1,099,995 flow-through common shares (the “FT Shares”) at $0.30 per FT Share for total gross proceeds of $329,998.50.
Of the total placement of 11,544,327 FT Shares, Insiders of the Company subscribed for 453,333 FT Shares. The Insiders are relying on exemptions under sections 5.5(a) and (b) and 5.7(a) of Multilateral Instrument 61-101 in order to subscribe for the placement.
The gross proceeds from the issuance of the FT Shares will be used for Canadian Exploration Expenses and will qualify as “flow-through mining expenditures”, as defined in subsection 127(9) of the Income Tax Act (Canada).
All securities issued under the placement will be subject to a four month hold period from the date of issue in accordance with applicable securities laws.
ON BEHALF OF THE BOARD OF DIRECTORS OF GATLING EXPLORATION INC.
Dale Ginn, President and CEO
For further information on Gatling, contact Investor Relations
Neither 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.
Forward Looking Statements: Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in our forward-looking statements. Although we believe that the expectations in our forward-looking statements are reasonable, actual results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.