Generation Mining Completes Second Tranche of Private Placement FOR Additional $100,000
1700-80 Richmond Street West Phone: 416 567-2440
Toronto, Ontario, Canada M5H 2A4 Email: [email protected]
GENERATION MINING COMPLETES SECOND TRANCHE
OF PRIVATE PLACEMENT FOR ADDITIONAL $100,000
Toronto, Ontario – April 27, 2018 – Generation Mining Limited (the “Company”) is pleased to announce,
further to its press release dated April 24, 2018, that it has completed a second tranche of its previously
announced non -brokered private placement (the “ Offering”), raising additional gross proceeds of
$100,000 through the issuance of 500,000 units (“Units”) at a price of $0.10 per Unit, and the issuance of
500,000 flow-through common shares (“FT Shares”) at a price of $0.10 per FT Share. Each Unit consists of
one common share (“ Common Share ”) and one -half of one Common Share purchase warrant
(“Warrant”). Each whole Warrant entitles the holder thereof to purchase one additional Common Share
at a price of $0.20 per Common Share until April 25, 2020.
In connection with the completion of the second tranche of Offering, certain eligible persons (the
“Finders”), were paid a cash commission equal to 6% of the proceeds raised from subscribers introduced
to the Company by such Finders, and issued finder warrants (the “ Finder Warrants”) equal to 6% of the
securities purchased by such subscribers. Each Finder Warrant entitles the holder thereof to purchase one
Common Share at a price of $0.10 per Common Share until April 25, 2020.
In total, the Company has raised aggregate gross proceeds of $2,600,000 pursuant to the Offering . The
Company now currently has 44,969,934 Common Shares outstanding, and working capital of
approximately $2,500,000.
All securities issued in connection with the second tranche of the Offering will be subject to a hold period
of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
The net proceeds of the Offering will be used for general working capital and to fund the continued
evaluation of the Company’s exploration projects.
About Generation Mining Limited
Generation Mining Limit ed is a base and precious metals exploration and development company with
various property interests throughout Canada. Its primary business objective is to explore and further
develop the Davidson Molybdenum project in British Columbia and its other mineral properties, and to
continue to increase its portfolio of base and precious metal property assets through acquisitions.
For further information please contact:
Jamie Levy
President and Chief Executive Officer
(416) 567-2440
Forward-Looking Information
1700-80 Richmond Street West Phone: 416 567-2440
Toronto, Ontario, Canada M5H 2A4 Email: [email protected]
This release includes certain statements that may be deemed “forward -looking statements”. All
statements in this release, other than statements of historical facts, that address future production,
reserve potential, exploration drilling, exploitation activ ities and events or developments that the
Company expects are forward -looking statements. Although the Company believes the expectations
expressed in such statements are based on reasonable assumptions, such statements are not guarantees
of future performa nce 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
forward-looking statements. These include market prices, exploitation an d 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 statements. 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 statements, whether as a result of new information, future events or otherwise, other than as
required by law.