Zadar Ventures Ltd. (the “Company”) is pleased to announce that it has settled on terms to undertake a private placement with Global Resources Investments Ltd (“GRIL”). Zadar is seeking to raise $650,000 through the sale of 2,6000,000 common shares at $0.25 per share.
GRIL has been established to exploit investment opportunities in the junior mining and natural resources sectors worldwide, with an investment objective to generate medium and long-term capital growth. GRIL will re-register as a public company and be constituted as an investment trust with the name Global Resources Investment Trust Plc (“GRIT”) and seek admission of its ordinary shares on the main market for listed securities on the London Stock Exchange.
In consideration for acquiring the Zadar shares, GRIT will issue and deliver to Zadar 392,393 ordinary shares of GRIT at £1.00 per share (the “GRIT Shares”). Zadar will then sell the GRIT Shares through the facilities of the London Stock Exchange to realize the private placement proceeds.
Closing of the transaction is subject to a number of conditions precedent, including approval of the TSX Venture Exchange, and GRIT successfully listing on the London Stock Exchange.
There is a finder’s fee payable on this transaction.
Zadar Ventures Ltd. is a junior uranium exploration company focused on acquiring and exploring for economically viable mineral resources. For more information we invite you to visit the company’s website at www.zadarventures.com .
ON BEHALF OF THE BOARD OF DIRECTORS
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.