GPM Metals Announces Private Placement Increase
TORONTO, July 26, 2019 — GPM Metals Inc. (“GPM” or the “Company“) (TSXV:GPM) is pleased to announce that it has increased the size of its previously announced non-brokered private placement financing from up to $525,000 to up to $600,000. The Company will now issue up to 8,000,000 units of the Company (“Units”) at a price of $0.075 per Unit for aggregate gross proceeds of up to $600,000.
Each Unit shall consist of one common share of the Company (a “Share”) and one share purchase warrant (a “Warrant”), with each such Warrant exercisable to acquire one additional Share at an exercise price of $0.10 for a period of 36 months from the closing of the Offering. Insiders of the Company may subscribe for up to 5,100,000 Units in the Offering.
The Offering is currently scheduled to close on or about August 9, 2019. Proceeds of the Offering will be used for exploration expenditures at the Company’s properties, and general corporate purposes. The securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
For further information please contact:
Peter Mullens, CEO
GPM Metals Inc.
Suite 1101- 141 Adelaide Street West,
Toronto, Ontario M5H 3L5
Telephone: + 416 628 5904