Generation Mining Closes Final Tranche of Non-Brokered Flow-Through Financing
Generation Mining Closes Final Tranche
of Non-Brokered Flow-Through
Financing
Toronto, Ontario – September 6, 2019 – Generation Mining Limited (CSE:GENM) (“Gen Mining” or the
“Company”) is pleased to announce that, further to its news release dated August 29, 2019, it has closed the
second and final tranche of its previously announced non-brokered private placement financing (the
"Offering") through the issuance of 417,460 flow-through common shares (the "Flow-Through Shares") at
a price of $0.315 per Flow-Through Share for gross proceeds of $131,500. The Flow-Through Shares issued
pursuant to the second tranche are subject to a statutory four month hold period ending on January 7, 2020
pursuant to applicable securities legislation.
The aggregate gross proceeds raised pursuant to the first and second tranches of the Offering was $1,942,750
through the issuance of 6,167,460 Flow-Through Shares. In total, the Company paid a cash finder’s fee equal
to 5% of the gross proceeds raised from subscribers introduced to the Company by a certain finder.
All proceeds from the sale of the Flow -Through Shares will be used to incur eligible Canadian Exploration
Expenses at the Company’s Marathon properties in the Province of Ontario and qualify as “flow-through
mining expenditures” (as such terms are defined in the Income Tax Act (Canada)) (the “ Qualifying
Expenditures”). The Qualifying Expenditures will be renounced to the subscribers with an effective date no
later than December 31, 2019.
The Company also announces that it has granted an aggregate of 200,000 options to purchase common shares
of the Company exercisable at a price of $0.35 per share for a period of two years, to a consultant of the
Company, in accordance with the terms of the Company’s stock option plan.
About Generation Mining Limited
Generation Mining Limited is a precious and base metal exploration and development company with various
property interests throughout Canada. Its primary business objective is to explore and furt her develop these
properties, and to continue to increase its portfolio of base and precious metal property assets through
acquisition. The Company’s common shares trade on the Canadian Securities Exchange (“CSE”) under the
symbol GENM.
For further information please contact:
Jamie Levy
President and Chief Executive Officer
(416) 640-2934
(416) 567-2440
Forward-Looking Information
This news release includes certain information that may be deemed “forward -looking information” under
applicable securities laws. All statements in this release, other than statements of historical facts, that address
acquisition of the Property and future work thereon, mineral resource and reserve potential, exploration
activities and events or developments that the Company expects is forward-looking information. Although the
Company believes the expectations expressed in such statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results or developments may differ materially
from those in the statements. There are certain factors that could cause actual results to differ materially from
those in the forward -looking information. These include the results of the Company’s due diligence
investigations, market prices, exploration successes, continued availability of capital and financing, and
general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual results
or developments may differ materially from those projected in the forward -looking information. For more
information on the Company, investors are encouraged to review the Company’s public filings at
www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward- looking
information, whether as a result of new information, future events or otherwise, other than as required by
law.