GPM Metals Announces Private Placement Financing
July 18 2019 - 10:28AM
GPM Metals Inc. (“
GPM” or the
“
Company“) (TSXV:GPM) is pleased to announce that
it proposes to complete a non-brokered private placement (the
“
Offering”) pursuant to which it will issue up to
7,000,000 units (“
Units”) at a price of $0.075 per
Unit to raise aggregate gross proceeds of up to $525,000.
Each Unit shall consist of one common share of the Company (a
“
Share”) and one share purchase warrant (a
“
Warrant”), with each such Warrant exercisable to
acquire one additional Share at an exercise price of $0.10 for a
period of 36 months from the closing of the Offering.
Insiders of the Company may subscribe for up to 4,000,000 Units in
the Offering.
The Offering is currently scheduled to close on
or about August 9, 2019, proceeds of the Offering will be used for
exploration expenditures at the Company’s properties, and general
corporate purposes. The securities issued pursuant to the Offering
will be subject to a statutory four month and one day hold period.
The Offering is subject to certain conditions including, but not
limited to, the receipt of all necessary approvals, including the
approval of the TSX Venture Exchange.
For further information please contact:
Peter Mullens, CEOGPM Metals Inc.Suite 1101- 141 Adelaide Street
West,Toronto, Ontario M5H 3L5 Telephone: + 416 628 5904Email:
info@gpmmetals.ca
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Forward-Looking Statements
Information set forth in this news release involves
forward-looking statements under applicable securities laws. The
forward-looking statements contained herein include, but are not
limited to, the anticipated size and completion the Offering and
the receipt of applicable regulatory approvals, and all such
forward-looking statements are expressly qualified in their
entirety by this cautionary statement. The forward-looking
statements included in this news release are made as of the date
hereof and the Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable securities legislation. Although
the Company believes that the expectations represented in such
forward-looking statements are reasonable, there can be no
assurance that such expectations will prove to be correct and,
accordingly, undue reliance should not be put on such
forward-looking statements. This news release does not
constitute an offer to sell or solicitation of an offer to buy any
of the securities described herein.
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