Gaia Metals Corp. Closes Over-Subscribed Non-Brokered Private Placement
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666 Burrard Street
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FSE: R9G / OTC: RGDCF / TSXV: GMC gaiametals.com
Gaia Metals Corp. Closes Over-Subscribed Non-Brokered Private
Placement
Vancouver, July 17 , 20 20 – Gaia Metals Corp. (the “Company”) (TSX.V: GMC) (OTCQB:
RGDCF) (FSE: R9G) is pleased to announce that it has closed an over-subscribed non-brokered
private placement financing (the “Private Placement”) for total gross proceeds of $603,000.
The Company has allotted and issued 8,040,000 units (the “Units”) at a price of $0.075 per Unit.
Each Unit is comprised of one common share and one transferable share purchase warrant, with
each warrant entitling the holder to purchase one additional common share of the Company for
a period of up to 2 years at a price of $0.12.
In addition, the Company paid finder’s fees of a total of $19,410 and issued 258,800 finder’s
warrants to arm’s length third parties, with each finder’s warrant entitling the holder to purchase
one common share of the Company for a period of up to 2 years at a price of $0.12.
The Company intends to use the proceeds from the Private Placement towards advancing its
mineral projects and general working capital. All securities issued under the Private Placement
are subject to a four-month and one-day hold period expiring on November 18, 2020. The Private
Placement is subject to final TSX Venture Exchange approval.
A portion of the Private Placement constitutes a “related party transaction” within the meaning
of Exchange Policy 5.9 and Multilateral Instrument 61-101 -Protection of Minority Security Holders
in Special Transactions (“MI 61-101”) adopted in the Policy. The Company has relied on
exemptions from the formal valuation and minority shareholder approval requirements of
MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of relat ed party
participation in the Private Placement.
About Gaia Metals Corp.
Gaia Metals Corp. is a mineral exploration company focused on the acquisition and development
of mineral projects containing base and precious metals, including platinum group elements, and
lithium.
The Company’s primary assets are the wholly owned Corvette Property , and the FCI Property
(held under Option from O3 Mining Inc., a recent spin -out from Osisko Mining Inc., for a 75%
interest) located in the James Bay Region of Quebec. The properties are contiguous and host
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666 Burrard Street
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V6C 3P6
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significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with
grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass
and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1
Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property,
BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest,
as well as several other assets in Canada.
For further information, please contact Adrian Lamoureux, President & CEO at Tel: 778-945-2950,
E-mail: [email protected] or visit www.gaiametalscorp.com.
On Behalf of the Board of Directors,
“ADRIAN LAMOUREUX”
Adrian Lamoureux, President & CEO
Neither the 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 news release.
Forward Looking Statements:
Statements included in th is announcement, including statements concerning our plans, intentions and
expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward-
looking statements”. Forward -looking statements may be identified by word s including “anticipates”,
“believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that
forward-looking statements, including without limitation those relating to the Company’s future operations
and business pros pects, are subject to certain risks and uncertainties that could cause actual results to
differ materially from those indicated in the forward-looking statements.