Business
Geomega Resources Inc.: Final Closing of a Private Placement With a Strategic Local Partner and New Director Appointment
MONTRÉAL, QUEBEC--(Marketwired - Feb. 23, 2016) - Further to the news release of December 30, 2015, Geomega Resources Inc. ("GéoMégA" or the "Company") (TSX VEN
About this update from Geomega Resources Inc.
[{"type":"text","content":" MONTRÉAL, QUEBEC--(Marketwired - Feb. 23, 2016) - Further to the news release of December 30, 2015, Geomega Resources Inc. (\"GéoMégA\" or the \"Company\") (TSX VENTURE:GMA) announces the final closing (the \"Final Tranche\") of a non-brokered private placement offering (the \"Private Placement\") in the amount of $799,500, consisting of a total of 11,421,429 units (the \"Units\") at a price of $0.07 per Unit, of which 9,571,429 Units are currently held in escrow pending TSX Venture Exchange approval of the final documentation. As part of the Private Placement, Nexolia Investments Inc. (\"Nexolia\"), has acquired 7,142,857 shares of GéoMégA. Considering the first tranche of the private placement, the total gross proceeds are $1,108,075 (the \"Private Placement\"). GéoMégA also would like to announce that Mrs. Vicky Lavoie, President and Founder of Nexolia, has joined the Board of Directors of GéoMégA. \"GéoMégA is pleased to welcome Nexolia as a strategic investor and a local partner in the pursuit of our common goal of developing a sustainable and competitive Rare Earth Elements (\"REE\") industry in Northern Quebec. With Nexolia's investment, GéoMégA is looking forward to taking the Montviel project to the next stage while our private subsidiary Innord Inc. (\"Innord\") continues to develop its proprietary rare earths separation technology.\" comments Kiril Mugerman, President and CEO of GéoMégA. Mr. Patrick Godin, Chairman of the Board, commented, \"I am pleased to welcome Mrs. Lavoie as an independent Director, noting her business experience, especially her focus on economic, social, environmental and sustainable development of northern communities, her vast experience working with the First Nations, project development and her knowledge of the mining and energy sectors and natural resources\". Mrs. Vicky Lavoie, M. Sc., is a business entrepreneur focusing on contributing to sustainable, social and economic development of the remote regions by implementing projects that create jobs, offer services and provide resources through concrete, transparent and respectful actions towards the communities and the environment. As President and founder of Nexolia Inc., through demonstrating a creative and innovative entrepreneurial vision, Mrs. Lavoie became the first non-resident of the Côte-Nord to sit on the board of directors of \"C...