Genesis Metals (GIS-V) Mar 9, '20 has completed a non-brokered private placement of two million flow-through shares of the company at a price of 50 cents per share for gross proceeds of $1-million.
All securities issued in connection with the financing will be subject to a four-month hold period. The company intends to use the net proceeds from the private placement to advance its 100% owned Chevrier gold project.
The company paid commissions to finders under the placement consisting of total cash commissions of $17,500.00 and the issuance of a total of 35,000 finder warrants. Each finder warrant entitles the holder to purchase one common share of the company at a price of $0.50 cents per common share for a period of two years.
About Genesis Metals Corp.
Genesis Metals is a member of the Discovery Group of Companies, an alliance of public companies focused on the advancement of mineral exploration and mining projects with a proven track record of generating shareholder value through responsible, sustainable, and innovative development. Discovery Group companies have generated over $500 million in direct and indirect expenditures resulting in over a billion dollars in M&A activity, with notable recent successes being the sale of Northern Empire Resources Corp. to Coeur Mining Inc. and the sale of Kaminak Gold Corp. to Goldcorp Inc. Current Discovery Group member companies include: Great Bear Resources Ltd., Bluestone Resources Inc., ValOre Metals Corp., Ethos Gold Corp., Fireweed Zinc Ltd., Dunnedin Ventures Inc., and K2 Gold Corporation.
Genesis Metals is a gold exploration company focused on advancing its Chevrier Gold Project in the prolific Abitibi region of Quebec, Canada.
ON BEHALF OF THE BOARD OF DIRECTORS
"David A. Terry"
President, CEO, and Director
Suite 1020, 800 West Pender Street, Vancouver, BC V6C 2V6
Telephone: 604-646-8356 Fax: 604-484-7155
Email: js@genesismetalscorp.com
Website: www.genesismetalscorp.com |
