News Column

Gentor Closes Private Placement Financing

September 2, 2014



ENP Newswire - 02 September 2014

Release date- 29082014 - TORONTO, CANADA - Gentor Resources Inc. (TSX VENTURE: GNT) announces that, further to its August 25, 2014 press release, it has closed a non-brokered private placement of 3,000,000 units of the Company at a price of Cdn$0.06 per Unit for proceeds to the Company of Cdn$180,000.

Each Unit is comprised of one common share of the Company and one-half of one warrant of the Company, with each full warrant (a 'Warrant') entitling the holder to purchase one common share of the Company at a price of Cdn$0.075 for a period of two years. The Company intends to use the proceeds from this financing (the 'Financing') for general corporate purposes. Arnold T. Kondrat was the purchaser of all of the Units.

Mr. Kondrat is Chief Executive Officer, President and a director of the Company and, taking into account the Units acquired under the Financing, now holds 24,697,500 (or 32.82%) of the outstanding common shares of the Company, 1,500,000 Warrants and an additional 7,500,000 common share purchase warrants of the Company, with each such additional warrant entitling the holder to purchase one common share of the Company at a price of Cdn$0.07 until January 2016.

The said shares and Warrants issued by the Company under the Financing are subject to a four month 'hold period' and the resale rules of applicable securities legislation.

About Gentor

Gentor is a mineral exploration company with copper exploration properties in Turkey. The Company's strategy is to create shareholder value by developing highly prospective mineral properties around the globe, with current focus in Turkey.

CONTACT:

Arnold T. Kondrat

President & CEO

Gentor Resources Inc.

Tel: + 1 (416) 366 2221

www.gentorresources.com


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Source: ENP Newswire


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