Business
GEOMEGA RESOURCES INC. RAISES $900,000 IN A PRIVATE PLACEMENT
Jan. 28, 2011 (Canada NewsWire Group) -- MONTREAL, Jan. 28 /CNW Telbec/ - Geomega Resources I...
About this update from Geomega Resources Inc.
[{"type":"text","content":"\n\n\n\n Jan. 28, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nMONTREAL, Jan. 28 /CNW Telbec/ - Geomega Resources Inc. ("GéoMégA")\n announces the closing of a first tranche of a non-brokered private\n placement (the "Placement") of units for proceeds of $900,000 with\n private investors and institutional funds. The securities issued under\n the Placement are subject to a four (4) month hold period.\n\n\nGéoMégA issued 1,000,000 units at a price of $0.90, each unit consisting\n of one (1) common share and one-half warrant. Each full warrant\n entitles the holder to purchase, during a period of eighteen (18)\n months from the date of closing, one common share at an exercise price\n of $1.35 per share. An additional tranche of $100,000, subject to the\n approval of the TSX Venture Exchange, is expected to close on or about\n February 4, 2011.\n\n\n"The proceeds of the Placement strengthens GéoMégA's balance sheet and\n will be used for continued exploration drilling at the Montviel\n property and initial exploration work on our other rare earth elements\n ("REE") properties." comments Simon Britt.\n\n\nAbout GéoMégA\n\n\nGéoMégA is a Quebec based mineral exploration company focused on the\n identification and development of economic REE deposits. GéoMégA's\n current mineral portfolio is located in the Abitibi and Upper\n Laurentians regions of Québec.\n\n\nCurrently, Gé...