Geo Minerals Closes Financing
April 29 2011 - 12:49PM
Marketwired
GEO MINERALS LTD. (TSX VENTURE: GM)(FRANKFURT: 8G3) ("GEO" or the
"Company") is pleased to announce that it has closed its private
placement (the "Private Placement") previously announced in a news
release dated April 5, 2011. Pursuant to the Private Placement the
Company issued 18,333,332 units (the "Units") at a price of $0.06
per Unit, for gross proceeds of $1,100,000. Each Unit is comprised
of one common share (a "Share") and one non-transferable common
share purchase warrant (a "Warrant"). Each whole Warrant entitles
the holder to purchase one Share at a price of $0.10 per Share for
the first 12 months and at a price of $0.12 for the following 12
months from the date of issuance.
Proceeds from this financing will be used to advance the
Company's West Blackwater property in B.C. as well as for general
working capital. Geo is in the process of permitting for the
upcoming work programs.
No finders' fees were paid in connection with this Private
Placement. All securities issued pursuant to the Private Placement
are subject to a hold period expiring August 28, 2011.
Geo also announces it has determined not to proceed with the 60%
option on the Windfall Property in Quebec (see PR November 15th,
2010) so that it can focus its efforts on the West Blackwater
property. The Company still holds claims in the area (see PR
December 16th, 2010).
Geo Minerals is a junior exploration company actively seeking
mineral opportunities for the benefit of all our stakeholders.
ON BEHALF OF THE BOARD
Michael England, President
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.
Contacts: Geo Minerals Ltd. Michael England President
1-604-683-3995 or Toll Free: 1-888-945-4770 1-604-683-3988 (FAX)
www.geominerals.ca
Geo Minerals Ltd (TSXV:GM)
Historical Stock Chart
From May 2024 to Jun 2024
Geo Minerals Ltd (TSXV:GM)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Geo Minerals Ltd (TSX Venture Exchange): 0 recent articles
More Geo Minerals Ltd. News Articles