Goldrea closes financing at $145,000, grants options

2018-05-14 17:56 ET - News Release

Mr. James Elbert reports
GOLDREA GRANTS STOCK OPTIONS AND CLOSES PRIVATE PLACEMENT
Goldrea Resources Corp. has granted an aggregate of 700,000 stock options to certain directors, officers, employees and consultants pursuant to the company's stock option plan. The options have an exercise price of 10 cents per share and an expiry date of May 14, 2023.

In addition, the company had previously announced the closing of a first tranche of a private placement which raised $145,000 from the sale of 725,000 units. Management has decided there will be no further tranches and the private placement of the 20-cent units is now closed. Funds raised in the private placement will be used for general working capital and all securities issued under the offering will have a four-month hold period.

The company is continuing its negotiations with Tabu Equity Investments Inc. with respect to a business combination between the parties. While an independent valuation of their company is being conducted, Tabu has continued to increase associations and agreements within the cannabis sector. An update of that activity can be viewed at the Tabu website. Both Goldrea and Tabu look forward to a rewarding relationship over the coming years and announcing the definitive agreement in the near term.

We seek Safe Harbor.