GPM Metals Completes Non-Brokered Private Placement
GPM Metals Completes Non-Brokered Private
Placement
Toronto, Ontario--(Newsfile Corp. - October 18, 2024) -
GPM Metals Inc. (TSXV: GPM)
("GPM" or the
"Company") is pleased to announce that on October 17, 2024, it closed the previously announced non-
brokered private placement of 11,000,000 units of the Company (the "Units") at a price of C$0.06 per
Unit for aggregate gross proceeds of approximately C$660,000 (the "Offering"). Each Unit consists of
one common share of the Company and one-half of one common share purchase warrant of the
Company (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder
thereof to acquire one common share of the Company at a price of C$0.10 until October 17, 2026.
The proceeds of the Offering will be used by the Company for exploration efforts at its Walker Gossan
Project located in Australia and for general corporate purposes and working capital.
The Offering is subject to the receipt of the final approval of the TSX Venture Exchange ("TSXV"). All
securities issued under the Offering are subject to a hold period expiring four months from the date
hereof. No finders' fees were payable in connection with the Offering.
Insiders of the Company subscribed for 1,000,000 Units under the Offering. The insiders' participation in
the Offering constitutes a "related party transaction" as defined under Multilateral Instrument 61-101
Protection of Minority Security Holders in Special Transactions
("MI 61-101"). Such participation is
exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as
neither the fair market value of the securities acquired by the insiders, nor the consideration for the
securities paid by such insiders, exceed 25% of the Company's market capitalization.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in
the United States or any other jurisdiction. No securities may be offered or sold in the United States or in
any other jurisdiction in which such offer or sale would be unlawful prior to registration under U.S.
Securities Act of 1933 or an exemption therefrom or qualification under the securities laws of such other
jurisdiction or an exemption therefrom.
For further information please contact:
John Tait
CEO and Director
Telephone: 416 414 3031
Email:
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information
Information set forth in this news release involves forward-looking information under applicable
securities laws. The forward-looking statements contained herein include, but are not limited to, the
intended use of proceeds and the receipt of TSXV approval, 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/227040