Genius Metals Completes $757,000 Private Placement Funding
Genius Metals Completes $757,000 Private Placement
Genius Metals Inc. (TSXV: GENI) is excited to share the successful conclusion of a private placement that has raised a total of $757,000. This funding was made possible through the issuance of 9,462,500 units, each priced at $0.08. Investors can expect these units to bolster growth opportunities for the company.
Details of the Offering
In this private placement, each unit comprises one common share paired with one half of a common share purchase warrant. Holders of these warrants can purchase one full share at the exercise price of $0.12 over a 24-month period. This structure creates an attractive prospect for investors looking to benefit from future growth.
Use of Proceeds
The funds generated from this offering are earmarked for various strategic initiatives. Genius Metals plans to direct this capital towards advancing its projects primarily based in Canada and Morocco. This includes exploration efforts aimed at discovering new mineral resources and enhancing their current portfolio, thus positioning the company for sustainable growth.
Participation in the Offering
Notably, a key officer within Genius Metals participated in the funding round, acquiring 125,000 units. Such involvement highlights the confidence of management in the company's direction and potential. The transaction, however, is classified as a related party transaction under relevant regulations, ensuring transparency and regulatory compliance.
About Genius Metals
Genius Metals stands out as a Canadian mineral exploration company dedicated to the discovery and development of natural resources. Operating chiefly in Canada and Morocco, the company prides itself on identifying promising properties that hold significant value.
Contact Information
For inquiries or further information, please reach out to Genius Metals at:
Genius Metals
205-68 de la Gare Av
Saint-Sauveur, Qc J0R 1R0
Pierre-Olivier Goulet
Vice-President Corporate Development
Email: pogoulet@geniusmetals.com
Phone: 1-450-821-5270
Guy Goulet
President and CEO
Email: ggoulet@geniusmetals.com
Phone: 1-514-294-7000
Frequently Asked Questions
What is the total amount raised in the private placement?
The private placement raised a total of $757,000 for Genius Metals.
How many units were issued in this offering?
A total of 9,462,500 units were issued at a price of $0.08 per unit.
What is included in each unit of the offering?
Each unit consists of one common share and one half of a common share purchase warrant.
What are the exercise terms for the Warrant?
Holders of a Warrant can purchase a common share at $0.12 for a period of 24 months.
What will the funds be used for?
The proceeds will be utilized for project development in Canada and Morocco as well as general working capital needs.
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