GPM Metals Announces Closing of Private Placement
GPM Metals Announces Closing of Private
Placement
Toronto, Ontario--(Newsfile Corp. - July 26, 2022) - 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
4,912,500
units (
"Units"
) at a price of $0.08 to raise gross
aggregate proceeds of $393,000.00.
Each Unit consists of one common share of the Company (a
"Share"
) and one half share purchase
warrant (each whole such warrant, a
'Warrant"
). Each Warrant will entitle the holder to purchase one
additional share at an exercise price of $0.10 for a period of 36 months.
Insiders of the Company subscribed for an aggregate of 2,600,000 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 available 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
November 27, 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 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 or accuracy
of this release.
Forward-Looking Statements
Information set forth in this news release involves forward-looking statements under applicable
securities laws. The forward-looking statements contained herein include, but are not limited to, the
anticipated size and completion the Offering and the receipt of applicable regulatory approvals, and
all such forward-looking statements are expressly qualified in their entirety by this cautionary
statement. The forward-looking statements included in this news release are made as of the date
hereof and 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, except as expressly
required by applicable securities legislation. Although the Company believes that the expectations
represented in such forward-looking statements are reasonable, there can be no assurance that such
expectations will prove to be correct and, accordingly, undue reliance should not be put on such
forward-looking statements.
This news release does not constitute an offer to sell or solicitation of an
offer to buy any of the securities described herein.
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/131975