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June 23, 2022 (Toronto, Ontario) GPM Metals Inc. (“GPM” or the “Company“) (TSXV:GPM ) announces a non-brokered private placement (the “Offering“) pursuant to which it will issue up to 6,250,000 units (Units) at a price of $ 0.08 each to raise aggregate gross proceeds up to $500,000.00
Each Unit will consist of one common share of the Company (a “Share”) and one half share purchase warrant (each whole such warrant, a ‘Warrant”). Each Warrant will entitle the holder to purchase one additional Common Share of the Company at a price of $ 0.10 per Common Share for a period of 36 months from relevant closing date.
All proceeds from the sale of the Units pursuant to the Offering shall be immediately available to the Company.
Insiders of the Company may subscribe for up to 5,000,000 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 July 22, 2022 and remains subject to the receipt of all applicable regulatory approvals.
For further information please contact:
Dan Noone, Executive Chairman
GPM Metals Inc.
Suite 1101- 141 Adelaide Street West,
Toronto, Ontario M5H 3L5
Telephone: + 416 628 5904
Email: [email protected]