Genius Properties Announces C$1 Million Private Placement

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[{"type":"text","content":"MONTRÉAL, QUÉBEC--(Marketwired - Oct. 13, 2017) - Genius Properties Ltd. (CSE:GNI)(CSE:GNI.CN)(CNSX:GNI) (\"Genius\" or the \"Corporation\") is pleased to announce its intention to complete a $1,000,000 non-brokered private placement offering (the \"Offering\") of up to 6,666,667 units of the Corporation (\"Units\"), each Unit consisting of one common share (a \"Share\") and one-half of one Share purchase warrant (each whole, a \"Warrant\"), at a price of $0.15 per Unit. Each Warrant will entitle its holder to purchase one additional Share at a price of $0.25 per Share for a period of 12 months from the date of closing of the Offering. The Offering will be completed concurrently with a private placement of up to 1,500,000 flow-through shares of the Corporation (\"FT Shares\") at a price of $0.20 per FT Share, for gross proceeds of up to $300,000. The Corporation intends to complete the Offering in accordance with Regulation 45-513 Respecting Prospectus Exemption for distribution to existing security holders and various corresponding blanket orders and rules of other Canadian jurisdictions that have adopted the same or a similar exemption from prospectus requirement (the \"Existing Security Holder Exemption\"). The Corporation will also accepts subscriptions from \"accredited investors\" (as defined in National Instrument 45-106 - Prospectus Exemptions, and in Québec Regulation 45-106 respecting Prospectus Exemptions) and may, at its discretion, also accept subscriptions pursuant to other prospectus exemptions available under applicable laws. Subject to certain limitations discussed below, the Offering is open to all existing shareholders of the Corporation until October 31, 2017. Any existing shareholders of the Corporation interested in participating in the Offering should contact the Corporation using the contact information set out below no later than October 27, 2017 so that subscription materials can be provided for completion and returned to the Corporation no later than October 30, 2017. The Corporation may close the Offering in several tranches during the course of the Offering. Regardless of the amount raised under the Offering, the Corporation will use all the proceeds for its working capital. Any securities issued pursuant to the Offering will be subject to a hold period under applicable securities laws, which wi...

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