Great Quest Announces Non-Brokered Private Placement Of Up To $1.5 Million

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VANCOUVER, British Columbia, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Great Quest Fertilizer Ltd (TSXV:GQ) (“Great Quest” or “the Company”) intends to complete a non-brokered private placement for gross proceeds of up to $1,500,000 (the "Private Placement"). The Private Placement will consist of up to 30,000,000 units of the Company (each, a "Unit"), at a price of $0.05 per Unit. Each Unit shall consist of one common share in the capital of the Company (each a "Share") and one common share purchase warrant (each a “Warrant”). Each Warrant shall entitle the holder to purchase one common share in the capital of the Company (a "Warrant Share") at a price of $0.10 per Warrant Share for a period of two years following the closing date, subject to an acceleration provision whereby in the event that at any time after the expiry of the statutory hold period the Shares trade at $0.20 or higher on the TSX Venture Exchange (“TSXV”) for a period of 10 consecutive days, the Company shall have the right to accelerate the expiry date of the Warrants to the date that is 30 days after the Company issues a news release announcing that it has elected to exercise the acceleration right.  

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