Graycliff Exploration Limited is pleased to announce the commencement of the 2020 exploration program on the Company’s 517 hectare Shakespeare Gold Project located on the prolific Canadian Shield near Sudbury, Ontario. As part of the 2020 exploration plan, the Company will focus primarily around the brownfields area surrounding the past producing Shakespeare gold mine.
Graycliff Exploration Limited. is pleased to report that is has completed a non-brokered private placement offering that was primarily with one strategic investor for a gross proceeds of $530,000, subject to final regulatory and exchange approvals. The Financing consists of 5% unsecured convertible debentures at an issue price of $1,000 per Debenture. The Debenture will have a maturity of twenty-four (24) months from the closing date of the Financing and will bear interest at a rate of 5% per annum, payable at maturity in cash or common shares of the Company at the conversion price.
Graycliff Exploration is pleased to announce that Mr. Bruce Durham and Mr. Don McKinnon Jr. have joined the Company’s Technical Advisory Board. Both new Advisory Board members bring extensive experience and have deep knowledge of the area hosting Graycliff’s Shakespeare Project. Mr. Durham will also serve as the Company’s Qualified Person (“QP”).