Genius Metals Provides Update on Non-Brokered Private Placement
Genius Metals Provides Update on Non-Brokered Private
Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES
MONTRÉAL, QUÉBEC, CANADA — (August 23, 2023) - Genius Metals Inc. (TSXV: GENI) (“Genius
Metals” or the “Corporation” ) provides an update on the private placement announced in the
press release dated August 7, 2023.
The Company announced its intention to complete a non -brokered private placement offering
(the “Offering”) of up to 8,000,000 units 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 Company is in discussions with investors and expects to close the Private Placement no later
than September 20, 2023, subject to receipt of all necessary approvals, including the final
approval of the TSX Venture Exchange ("TSXV").
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 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 b uy securities in the United
States, nor in any other jurisdiction.
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 identi fied 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 an d are subject to known and unknown
risks, uncertainties and other factors 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 requ ired 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.