TORONTO, ONTARIO--(Marketwired - April 13, 2017) - Atlantic Asset Management S.A. ("Atlantic") announced that it has participated in a non-brokered private placement offering by Greatbanks Resources Ltd. (the "Company") effective March 21, 2017, wherein Atlantic purchased an aggregate 10,300,000 units of the Company (the "Units") at a price of $0.055 per Unit (the "Financing"). Each Unit consists of one common share ("Common Share") in the capital of the Company and one common share purchase warrant ("Warrants"). Each Warrant entitles the holder thereof to acquire one Common Share of the Company at a price of $0.08 until March 21, 2019.
Prior to the completion of the Financing, Atlantic owned 250,000 Common Shares of the Company representing 0.77% of the Company's issued and outstanding Common Shares.
Following the Financing, Atlantic owns an aggregate 10,550,000 Common Shares and 10,300,000 Warrants representing 16.62% of the issued and outstanding common shares of the Company on a non-diluted basis and 28.27% on a partially diluted basis.
Atlantic acquired the securities for investment purposes and intends to evaluate the investment and to increase or decrease its holdings in the Company as circumstances warrant.