GPM Metals Announces Closing of Private Placement
GPM Metals Announces Closing of Private
Placement
Toronto, Ontario--(Newsfile Corp. - November 5, 2021) - GPM Metals Inc. (TSXV: GPM) (
"GPM"
or the
"
Company
") announces that it has closed a non-brokered private placement (the "
Offering
") pursuant
to which it has issued an aggregate of 3,000,000 units (
"Units"
) at a price of $0.10 to raise gross
aggregate proceeds of $300,000.00.
Each Unit consists of one common share of the Company (a
"Share"
) and one share purchase warrant
(a
"Warrant"
), with each warrant entitling the holder thereof to acquire one additional share at an
exercise price of $0.15 for a period of 36 months.
Insiders of the Company subscribed for an aggregate of 2,500,000 Units
in the Offering.
The insider participation will be considered to be related party transactions within the meaning of TSXV
Policy 5.9 and Multilateral Instrument 61-101 ("
MI 61-101
"). The Company intends to rely on the
exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in
sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation.
All proceeds from the Offering shall be immediately to the Company and used for property interests and
general corporate purposes.
All of the securities issued and issuable in the Offering are subject to a statutory hold period expiring on
March 6, 2022.
The Offering remains subject to the receipt of applicable final regulatory approvals.
For further information please contact:
Peter Walsh
Chief Executive Officer,
GPM Metals Inc.
Suite 1101, 141 Adelaide Street West,
Toronto, Ontario M5H 3L5
Telephone: + 416 628 5904
Email:
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 Metals, including, but not limited to the failure to complete the Offering as currently
proposed or at all, the impact of general economic conditions, industry conditions, volatility of
commodity prices, currency fluctuations, dependence upon regulatory and shareholder approvals, 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.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE
U.S.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/102164