Genius Metals Announces Private Placement of up to $500,000
25 September 2024 - 12:59AM
Genius Metals Inc. (TSXV: GENI) ("Genius Metals" or the
"Corporation") is pleased to announce a non-brokered private
placement of up to 6,250,000 units of the Corporation ("Units") at
a price of $0.08 per Unit, for total gross proceeds of up to
$500,000 (the "Offering").
Each Unit will consist of one common share of
the Corporation (a “Common Share”) and one-half of one Common Share
purchase warrant (a “Warrant”). Each whole Warrant will entitle its
holder to purchase one Common Share at an exercise price of $0.12
per Common Share for a period of 24 months.
Closing of the Offering is subject to certain
conditions including, but not limited to, the approval of the TSX
Venture Exchange ("TSXV"). All securities issued in connection with
the Offering will be subject to a statutory hold period ending four
months and one day from the date of their issuance, in accordance
with applicable securities laws.
The net proceeds from the Offering will be
allocated towards the development of the Corporation's portfolio in
Québec and Morocco, encompassing potential growth opportunities, as
well as for general working capital purposes.
The securities described herein 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 state securities laws, and accordingly, may not be offered
or sold within the United States except in compliance with the
registration requirements of the U.S. Securities Act and applicable
state securities requirements or pursuant to exemptions therefrom.
This press release does not constitute an offer to sell or a
solicitation to buy any securities in any 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 and
Morocco.
Contact Information
Pierre-Olivier
Goulet |
Guy
Goulet |
Vice-President Corporate Development |
President and CEO |
Email: pogoulet@geniusmetals.com |
Email: ggoulet@geniusmetals.com |
1-450-821-5270 |
1-514-294-7000 |
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 using 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, including statements relating to the
expected closing of the Offering, as well as the amount and
intended use of the net proceeds from the Offering, are based on
the Corporation's estimates and are subject to known and unknown
risks, uncertainties, and other factors that may cause 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 the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news
release.
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