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GMV Minerals Inc. announces increase in size of previously announced brokered private placement financing
GMV Minerals Inc. announces increase in size of previously announced brokered private placement f...
About this update from Gmv Minerals Inc
[{"type":"text","content":"\n\n\n\n Jun. 15, 2010 (Canada NewsWire Group) -- /NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/\n\n GMV Minerals Inc. (the "Company" or "GMV") (TSX-V:GMV) is pleased to announce the pricing and an increase in the expected size of the private placement financing of units (the "Units") of the Company announced on May 10, 2010. GMV and Max Capital Markets Ltd. (the "Agent") have agreed that up to 21,666,666 Units will be offered at a price of $0.15 per Unit (the "Private Placement") for aggregate gross proceeds of up to $3,250,000, rather than the previously announced $2,500,000.\nEach Unit shall be comprised of one common share (a "Common Share") and half of one common share purchase warrant (a "Purchase Warrant"). Each whole Purchase Warrant shall be exercisable into one Common Share at an exercise price of $0.25 per Common Share for 24 months following the closing of the Private Placement.\nIn consideration for its services, the Agent shall receive a placement fee equal to 8% of the aggregate gross proceeds raised in connection with the Private Placement as well as broker warrants (the "Broker Warrants") in an amount equal to 10% of the Units sold under the Private Placement. Each Broker Warrant will be exercisable into one Common Share at a price of $0.15 per Common Share for 24 months following the closing of the Private Placement.\nThe proceeds of the Private Placement will be used for exploration expenditures and for working capital and general corporate purposes.\nAll of the Common Shares and Purchase Warrants issued pursuant to the Private Placement are subject to a 4-month hold period. Completion of the Private Placement is conditional on and subject to the final approval of the TSX Venture Exchange.\nThe Private Placement is expected to close on or about June 21, 2010.\n\nNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release or has in any way passed upon the merits of the Acquisition and has neither approved nor disproved the contents of this press release.\n\nThese securities have not been and will not be registered under the United States Securities...