IAS Imasight (Tier2)

Geomega Resources Inc. ("GeoMegA" or the "Company") (TSX VENTURE:GMA) announces
it has entered into an engagement letter with Industrial Alliance Securities
Inc. ("IAS") for a private placement consisting of 3,333,333 units (the "Units")
at a subscription price of $0.60 per Unit and 1,450,000 flow-through shares
(each, a "Flow-Through Share"), at a price of $0.70 per Flow-Through Share for
gross proceeds of $3,015,000 (the "Private Placement").


The Company will use the proceeds of the Private Placement for continued
development of its separation process, exploration and development on its
Montviel property in Quebec and working capital purposes.


Each Unit consists of one common share (a "Common Share") and one-half of a
share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant
entitles the holder thereof to acquire one additional common share at a price of
$0.90 per share for a period of 18 months from the closing date.


In connection with the Private Placement, the Company will pay a cash commission
to IAS equal to 6.5% of the gross proceeds raised and will issue broker warrants
equal to 5% of the total number of Units and Flow-Through Shares sold. Each
broker warrant entitles the holder to purchase one common share for a period of
18 months from the date of issuance at a price of $0.60 per share. 


The Company has granted IAS a 15 day over-allotment option (the "Over-Allotment
Option") to sell up to that number of additional Units that equals 15% of the
aggregate number of Units sold through the Private Placement. Presuming full
exercise of the Over-Allotment Option, the gross proceeds from the Private
Placement will be $3,315,000 with 3,833,333 Units being sold.


The Private Placement is scheduled to close on or about March 10, 2014 and is
subject to certain conditions including, but not limited to, the receipt of all
necessary regulatory approvals including the approval of the TSX Venture
Exchange. All securities issued pursuant to the Private Placement will be
subject to a four month and one day hold period from the date of closing of the
Private Placement. 


This press release is not an offer or a solicitation of an offer of securities
for sale in the United States. The securities have not been and will not be
registered under the U.S. Securities Act of 1933, as amended, and may not be
offered or sold in the United States absent registration or an applicable
exemption from registration. 


About GeoMegA (www.geomega.ca)

GeoMegA, which owns 100% of the Montviel rare earth elements/niobium project
located in Quebec, is a mineral exploration and development company focused on
the discovery and sustainable development of economic deposits of metals, such
as rare earth elements, niobium and graphite, in Quebec. GeoMegA is committed to
meeting Canadian mining industry standards and distinguishing itself with its
innovative engineering, stakeholders engagement and its dedication to local
transformation benefits.


GeoMegA currently has 42,825,238 common shares issued and outstanding.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


Cautions Regarding Forward-Looking Statements 

This news release contains forward-looking statements regarding our intentions
and plans. The forward-looking statements that are contained in this news
release are based on various assumptions and estimates by the Company and
involve a number of risks and uncertainties. As a consequence, actual results
may differ materially from results forecast or suggested in these
forward-looking statements and readers should not place undue reliance on
forward-looking statements. We caution you that such forward-looking statements
involve known and unknown risks and uncertainties, as discussed in the Company's
filings with Canadian securities agencies. Various factors may prevent or delay
our plans, including but not limited to, contractor availability and
performance, weather, access, mineral prices, success and failure of the
exploration and development carried out at various stages of the program, and
general business, economic, competitive, political and social conditions. The
Company expressly disclaims any obligation to update any forward- looking
statements, except as required by applicable securities laws.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Simon Britt
President and CEO
GeoMegA
(450) 465-0099
info@ressourcesgeomega.ca

Imasight (Tier2) (TSXV:IAS)
Historical Stock Chart
Von Jun 2024 bis Jul 2024

Imasight (Tier2) (TSXV:IAS)
Historical Stock Chart
Von Jul 2023 bis Jul 2024