July 5, 2018 (Toronto, Ontario): GPM Metals Inc. (“GPM” or the “Company“) (TSXV:GPM) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Offering”), pursuant to which it has issued an aggregate of 10,000,000 units (“Units”) at a price of $0.05 per Unit to raise aggregate gross proceeds of $500,000. Each Unit consists of one common share of the Company (a “Share”) and one-half of one share purchase warrant (each whole such 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 24 months from the closing of the Offering. Insiders purchased an aggregate of 3,400,000 Units in the Offering.
All securities issued and issuable pursuant to the Offering are subject to a statutory hold period expiring November 6, 2018. The Offering remains subject to the final approval of the TSX Venture Exchange.
For further information please contact:
Chief Executive Officer