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TORONTO, July 05, 2018 (GLOBE NEWSWIRE) -- 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 10,000,000 units (“Units”) at a price of $0.05 per Unit to raise aggregate gross proceeds of $500,000. Each Unit consists of one common share of the Company (a “Share”) and one-half of one share purchase warrant (each whole such 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 24 months from the closing of the Offering. Insiders purchased an aggregate of 3,400,000 Units in the Offering.
All securities issued and issuable pursuant to the Offering are subject to a statutory hold period expiring November 6, 2018. The Offering remains subject to the final approval of the TSX Venture Exchange.
For further information please contact:
Peter Mullens
Chief Executive Officer
(416) 628-5904
Email: info@gpmmetals.ca
Neither the 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 and / or accuracy of this release.
Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of GPM, including, but not limited to the failure to receive all final regulatory approvals, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, changes in the proposed use of proceeds of the Offering and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
