/C O R R E C T I O N from source – Genius Metals Inc./ In the news release, issued 07 -Aug-2023 by Genius Metals Inc. over CNW, in the last paragraph of the Option Plan Amendment and Grant of Options should read
/C O R R E C T I O N from source – Genius Metals Inc./
In the news release, issued 07 -Aug-2023 by Genius Metals Inc. over CNW, in the
last paragraph of the Option Plan Amendment and Grant of Options should read
"until July 27, 2028". The complete, corrected release follows:
Genius Metals Inc. Announces Private Placement Offering of
Common Share Units, Option Plan Amendment and Grant of
Options
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES
MONTRÉAL, QUÉBEC, CANADA — (August 7, 2023) - Genius Metals Inc. (TSXV: GENI) (“Genius
Metals” or the “Corporation” ) is pleased to announce its intention to complete a non -brokered
private placement offering (the “Offering”) of up to 8,000,000 uni ts of the Corporation (the
"Units") at a price of $0.05 per Unit for aggregate gross proceeds of up to $400,000. Each Unit
will be comprised of one common share (a "Common Share") and one Common Share purchase
warrant (a "Warrant") in the capital of the Corporation. Each Warrant will entitle the holder
thereof to purchase one Common Share at an exercise price of $0.10 per share for a period of 24
months from the closing date of the Offering (the “Closing Date”).
The net proceeds will be used by the Corporation to incur exploration expenses and for general
working capital purposes.
All securities issued in connection with the Offering will be subject to a four-month-and-one-day
statutory hold period in accordance with applicable securities laws.
The Offering is subject to TSX Venture Exchange (the “TSXV”) final approval.
The securities offered have not been, and will not be, registered under the United States
Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any U.S. state securities laws,
and may not be offered or sold in the United States or to, or for the account or benefit of, United
States persons absent registration or any applicable exemption from the registration
requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release
does not constitute an offer to sell or the solicitation of any offer to buy securities in the United
States, nor in any other jurisdiction.
Option Plan Amendment and Grant of Options
The Corporation announces that its board of directors has approved an amendment to its stock
option plan pursuant to which the number of common shares available for issuance pursuant to
options granted thereunder is increased from 4,600,000 to 8,600,000 (the “Amended SOP”). This
amendment is subject to TSXV approval.
Subject to TSXV approval, the Corporation has granted 2,200,000 options, including 1,700,000
options to directors and officers of the Corporation . These options are granted in accordance
with the terms of the Amended SOP . All options vest on their date of grant and each option
entitles the holder thereof to purchase one common share of the Corporation at a price of $0.10
for a period of five years until July 27, 2028.
About Genius Metals
Genius Metals is a Canadian mineral exploration company focused on the acquisition,
exploration and, if warranted, development of natural resource properties of merit in Canada.
Contact Information
Genius Metals Inc.
Tel.: 579-476-7000
Pierre-Olivier Goulet
Vice-President Corporate Development
Email: [email protected]
1-450-821-5270
Guy Goulet
President and CEO
Email: [email protected]
1-514-294-7000
Forward-Looking Statements and Disclaimer
Certain information contained herein may constitute “forward -looking information” under
Canadian securities legislation. Generally, forward -looking information can be identified by the
use of forward-looking terminology such as, “will be”, “expected” or variations of such words and
phrases or statements that certain actions, events or results “will” occur. Forward -looking
statements are based on the Corporation’s estimates and are subject to known and unknown
risks, uncertainties and other factor s that may cause the actual results, level of activity,
performance or achievements of the Corporation to be materially different from those expressed
or implied by such forward -looking statements or forward -looking information , such as TSXV
approval. There can be no assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward -looking statements and
forward-looking information. The Corporation will not update any forward-looking statements or
forward-looking information that are incorporated by reference herein, except as required by
applicable securities laws.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this news release.