GPM Metals Announces Closing of Private Placement to Raise $600,000
August 09 2019 - 3:02PM
GPM Metals Inc. (“
GPM” or the
“
Company“) (TSXV:GPM) is pleased to announce that
it has closed its previously announced non-brokered private
placement (the “
Offering”), pursuant to which it
has issued an aggregate of 8,000,000 units
(“
Units”) at a price of $0.075 per Unit to raise
aggregate gross proceeds of $600,000. Each Unit consists 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 purchased an aggregate of 4,800,000 Units
in the Offering.
In connection with the Offering, the Company
paid cash commission of $7,485 and issued an aggregate of 91,800
broker warrants to eligible registrants assisting in connection
with the Offering, with each such broker warrant entitling the
holder thereof to acquire one Share at an exercise price of $0.10
for a period of 36 months from the closing of the Offering.
All securities issued and issuable pursuant to
the Offering are subject to a statutory hold period expiring
December 10, 2019. The Offering remains subject to the final
approval of the TSXV.
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 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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