/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES/
MONTRÉAL, June 16,
2023 /CNW/ - Genius Metals Inc. (TSXV:
GENI) ("Genius Metals" or the "Corporation") announces its
intention to complete a non-brokered private placement offering
(the "Private Placement") for gross proceeds of
$1 million.
In regard to the Private Placement, the Corporation will
issue:
- Common share units (the "Common Share Units") at a price
of $0.05 per Common Share Unit, with
each such unit being comprised of one common share and one common
share purchase warrant (a "Warrant") entitling the holder to
purchase one Common Share at an exercise price of $0.10 for a period of 24 months,
- Flow-Through Shares (the "Flow-Through Share") at a
price of $0.06 per Flow-Through
Share;
The net proceeds of the sale of Flow-Through Shares will be used
by the Corporation to incur qualifying exploration expenses on its
mining properties in Quebec and
the net proceeds of Common Share Units will be used by the
Corporation to incur exploration expenses and for general working
capital purpose.
All securities issued in connection with the Offering will be
subject to a four-month-and-one-day statutory hold period in
accordance with applicable securities laws.
The securities offered have not been, and will not be,
registered under the United States Securities Act of 1933, as
amended, (the "U.S. Securities Act") or any U.S. state securities
laws, and may not be offered or sold in the United States or to, or for the account or
benefit of, United States persons
absent registration or any applicable exemption from the
registration requirements of the U.S. Securities Act and applicable
U.S. state securities laws. This news release does not constitute
an offer to sell or the solicitation of any offer to buy securities
in the United States, nor in any
other jurisdiction.
About Genius Metals
Genius Metals is a Canadian mineral exploration company focused
on the acquisition, exploration and, if warranted, development of
natural resource properties of merit in Canada.
Forward-Looking Statements and
Disclaimer
Certain information contained herein may constitute
"forward-looking information" under Canadian securities
legislation. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as, "will
be", "expected" or variations of such words and phrases or
statements that certain actions, events or results "will" occur.
Forward-looking statements are based on the Corporation's estimates
and are subject to known and unknown risks, uncertainties and other
factors that may cause the actual results, level of activity,
performance or achievements of the Corporation to be materially
different from those expressed or implied by such forward-looking
statements or forward-looking information. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements and
forward-looking information. The Corporation will not update any
forward-looking statements or forward-looking information that are
incorporated by reference herein, except as required by applicable
securities laws.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this news
release.
SOURCE Genius Metals Inc.
