GPM Metals Announces Private Placement Increase
GPM Metals Announces Private Placement
Increase
Toronto, Ontario--(Newsfile Corp. - May 12, 2023) - GPM Metals Inc. (TSXV: GPM) (
"GPM"
or the
"
Company
") is pleased to announce that it has increased the size of the previously announced non-
brokered private placement (the "
Offering
") from up to $330,000, to up to $440,000. The Company will
now issue up to 8,000,000 units at a price of $0.055 per unit (a "
Unit
").
Each Unit will consist of one common share of the Company (a
"Share"
) and one share purchase
warrant (a "
Warrant
"). Each Warrant will entitle the holder to purchase one additional Share of the
Company at a price of
$0.10
per Share for a period of
60 months from the closing date of the Offering.
All proceeds from the sale of the Units pursuant to the Offering shall be immediately available to the
Company.
Insiders of the Company may subscribe for up to 5,000,000 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.
The Offering is currently scheduled to close on or about June 9, 2023 and remains subject to the receipt
of all applicable regulatory approvals.
For further information please contact:
Dan Noone, Executive Chairman
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/165976