GPM Metals Announces Private Placement Increase
July 29 2019 - 7:00AM
GPM Metals Inc. (“
GPM” or the
“
Company”) (TSXV:GPM) is pleased to announce that
it has increased the size of its previously announced non-brokered
private placement financing from up to $525,000 to up to $600,000.
The Company will now issue up to 8,000,000 units of the Company
(“
Units”) at a price of $0.075 per Unit for
aggregate gross proceeds of up to $600,000.
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 5,100,000 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 3L5Telephone: + 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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