Graycliff Exploration appoints Roehlig president, CEO

Executive Summary

• Graycliff Exploration Ltd. appointed Arndt Roehlig as its new President, CEO, and Director, while outgoing CEO James Macintosh transitions to Chairman of the Board.
• The company announced a non-brokered private placement of up to 4.4 million common shares at $0.10 per share, raising up to $440,000 in gross proceeds.
• Proceeds are designated for general corporate and working capital purposes, with the closing subject to regulatory approvals including the Canadian Securities Exchange.

Key Details

• Management Changes:
  • Arndt Roehlig appointed as President, Chief Executive Officer, and Director, effective immediately.
  • James Macintosh appointed as Chairman of the Board.
  • Roehlig brings decades of experience managing publicly traded companies and raising capital for TSX Venture and CSE-listed entities.
• Private Placement Terms:
  • Structure: Non-brokered private placement.
  • Securities: Up to 4.4 million common shares.
  • Price: $0.10 per share.
  • Gross Proceeds: Up to $440,000.
  • Use of Proceeds: General corporate and working capital purposes.
  • Hold Period: Four months plus one day from the date of issuance.
  • Finders' Fees: Up to 10% of funds raised, payable in shares or cash.
• Closing Conditions:
  • Subject to receipt of all necessary regulatory and other approvals.
  • Specifically requires approval from the Canadian Securities Exchange.

Notable Quotes

• No direct quotes from executives were included in the provided text.