- Grande Portage Resources (TSXV:GPG) (OTCQB:GPTRF) seeks to extend the expiry date of 5,550,000 common share purchase warrants.
- The warrants, originally issued in May 2023, have an exercise price of $0.30 per share.
- The proposed new expiry date is May 10, 2026, pending TSX Venture Exchange approval.
Grande Portage Resources Ltd. (TSXV:GPG) (OTCQB:GPTRF) has formally applied to the TSX Venture Exchange for an extension of the expiry date for 5,550,000 outstanding unlisted common share purchase warrants. Each warrant is currently exercisable to purchase one common share at $0.30. These warrants were originally issued as part of a non-brokered unit private placement in May 2023.
The company proposes to extend the expiration date of these warrants to 4:30 pm PST on May 10, 2026. This extension is subject to approval from the TSX Venture Exchange. The warrants are a significant component of the company's financial strategy, aiming to provide liquidity and potential funding for future endeavors.
Grande Portage Resources focuses on advancing its New Amalga Mine project, derived from the Herbert Gold discovery, located about 25 kilometers north of Juneau, Alaska. The company holds a 100% interest in the New Amalga property, which features a promising gold system within the prolific Juneau Gold Belt.
The latest Mineral Resource Estimate for the New Amalga project reports an Indicated Resource of 1,438,500 ounces of gold at an average grade of 9.47 g/t and an Inferred Resource of 515,700 ounces of gold at an average grade of 8.85 g/t. The project also includes significant silver resources, outlining the strategic importance of further developing this asset.
