Genius Metals Secures Conditional Approval to List on the TSX Venture Exchange, Adds $500K to Previous Financing and Grants Stock Options to its Directors, Officers, Employees and Consultants
CSE:GENI
Genius Metals Secures Conditional Approval to List on the
TSX Venture Exchange, Adds $500K to Previous Financing
and Grants Stock Options to its Directors, Officers,
Employees and Consultants
MONTRÉAL, QUÉBEC, CANADA — (September 17, 2021) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES
Genius Metals Inc. (CSE: GENI) (“Genius Metals” or the “Corporation”) is pleased to
announce that it has obtained conditional approval to list its Common Shares on the TSX
Venture Exchange (“TSXV”). Genius has also completed a second tranche of a non-
brokered private placement offering (the “Private Placement”) for gross proceeds of
$500K, bringing the total proceeds of this offering to $2.9M. These funds will be used to
advance the exploration programme on the Sakami property.
Listing on TSX Venture Exchange
The Corporation is confident that by listing on the TSXV it can attract further
institutional investing, notably in Quebec since many institutions require a TSX listing
to participate in financing activities.
Final approval of the listing on the TSXV is subject to the Corporation meeting certain
customary conditions required by the TSXV. The Corporation will make a further
announcement once the TSXV has issued a bulletin confirming the date on which trading
on the TSXV will commence. The Corporation will also apply to have its Common Shares
voluntarily delisted from the Canadian Securities Exchange (“CSE”) immediately before
trading begins on the TSXV. Once listed on the TSXV , the Corporation will continue to
trade under its existing symbol “GENI”. Shareholders are not required to take any action
related to the listing.
Closing of a Second Tranche of Financing
Under the Private Placement, the Corporation issued and sold:
• 2,500,000 common share units (the “Common Share Units”) at a price of
$0.20 per Common Share Unit, with each such unit being comprised of
one common share of the Corporation (“Common Share”) and one
common share purchase warrant entitling the holder thereof to purchase
one Common Share at an exercise price of $0.35 for a period of eighteen
months;
The following funds participated in the Placement of Common Shares Units: SIDEX,
société en commandite (“ SIDEX”), Société de Développement de la Baie James
(“SDBJ”), as well as Desjardins Capital (“DC”).
All securities issued pursuant to the Private Placement are subject to a hold period
under applicable securities laws, which will expire four months plus one day from the
date of their issuance.
Grant of Stock Options
Genius Metals also announces that it has granted incentive stock options to directors,
officers, employees and consultants of Genius Metals to acquire an aggregate of
1,430,000 common shares at $0.30 per share, for a period of 3 to 5 years and 450,000
common shares at $0.35 for a period of 3 years . These incentive stock options have
been granted in accordance with the Corporation Stock Option Plan.
About SIDEX
SIDEX is an initiative of the Québec government and the Fonds de solidarité FTQ whose
mission is to invest in companies engaged in mineral exploration in Québec in order to
diversify the province’s mineral base, promote innovation and new entrepreneurs.
About SDBJ
SDBJ was created under the James Bay Region Development Act adopted by the Québec
National Assembly in 1971. Its mission is to promote, from a sustainable development
perspective, the economic development, improvement and exploitation of natural
resources other than hydroelectric resources falling within Hydro-Québec’s mandate in
the Baie -James territory. SDBJ can also foster, support and participate in the
implementation of projects having these objectives.
About Desjardins Capital
Over 45 years strong, Desjardins Capital has a mission to value, support and nurture the
best of Quebec entrepreneurship. With assets under management of C$2.8 billion as of
June 30, 2021, Desjardins Capital helps contribute to the longevity of more than 610
companies, cooperatives and funds in vari ous sectors from across Quebec. In addition
to helping to maintain and create many thousands of jobs, this subsidiary of Desjardins
Group offers business owners access to a large business network and supports their
business growth. For more information, visit our website.
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 tha t certain actions, events or
results “will” occur. Forward -looking statements, including the expectations of the
Corporation’s management regarding the use of proceeds of the Private Placement ,
the listing of its Common Shares on the TSXV and delisting from the CSE, are based on
the Corporation’s estimates and 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. 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.
The CSE has in no way passed upon the merits of the transactions and has neither
approved nor disapproved the contents of this news release. Neither the CSE nor its
Regulation Services Provider accepts responsibility for the adequacy or accuracy of
this news release.