October 13, 2021 (Toronto, Ontario) GPM Metals Inc. (“GPM” or the “Company“) (TSX VENTURE:GPM ) announces a non-brokered private placement (the “Offering“) pursuant to which it will issue up to 3,000,000 units (“Units“) at a price of $0.10 each to raise aggregate gross proceeds of up to $300,000.00
Each Unit will consist of one common share of the Company (a “Share“) and one share purchase warrant (a “Warrant“), with each Warrant entitling the holder thereof to acquire one additional Share at an exercise price of $0.15 for a period of 36 months.
All proceeds from the sale of Units pursuant to the Offering shall be immediately available to the Company.
Insiders of the Company may subscribe for up to 3,000,000 Units in the Offering.
The insider participation will be considered to be related party transactions within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 (“MI 61-101“). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation.
The Offering is currently scheduled to close on or about October 29, 2021 and remains subject to the receipt of all applicable regulatory approvals.
For further information please contact:
GPM Metals Inc.
Dan Noone, Chairman
Suite 1101 – 141 Adelaide Street West,
Toronto, Ontario M5H 3L5
Telephone : + 416 628-5904