Business
GPM Metals Announces Private Placement Increase
Toronto, Ontario--(Newsfile Corp. - May 12, 2023) - GPM Metals Inc. (TSXV: GPM) ( "GPM" or the "...
About this update from Gpm Metals Inc.
[{"type":"text","content":"GPM Metals Announces Private Placement IncreaseToronto, Ontario--(Newsfile Corp. - May 12, 2023) - GPM Metals Inc. (TSXV: GPM) (\"GPM\" or the \"Company\") is pleased to announce that it has increased the size of the previously announced non-brokered private placement (the \"Offering\") from up to $330,000, to up to $440,000. The Company will now issue up to 8,000,000 units at a price of $0.055 per unit (a \"Unit\").Each Unit will consist of one common share of the Company (a \"Share\") and one share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to purchase one additional Share of the Company at a price of $0.10 per Share for a period of 60 months from the closing date of the Offering.All proceeds from the sale of the Units pursuant to the Offering shall be immediately available to the Company.Insiders of the Company may subscribe for up to 5,000,000 Units in the Offering. The insider participation will be considered to be related party transactions within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 (\"MI 61-101\"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation.The Offering is currently scheduled to close on or about June 9, 2023 and remains subject to the receipt of all applicable regulatory approvals.For further information please contact:Dan Noone, Executive ChairmanGPM Metals Inc.Suite 1101- 141 Adelaide Street West,Toronto, Ontario M5H 3L5Telephone: + 416 628 5904Email: [email protected] Neither 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. Forward-Looking StatementsInformation set forth in this news release involves forward-looking statements under applicable securities laws. The forward-looking statements contained herein include, but are not limited to, the anticipated size and completion the Offering and the receipt of applicable regulatory approvals, and all such forward-looking statements are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this news release are made as of the date hereof and...