Business
Genius Metals Announces $1.5M Financing and Provides an Update on the Drilling Program at Sakami
Genius Metals Announces $1.5M Financing and Provides an Update on the Drilling Program at...
About this update from Morocco Strategic Minerals Corporation
[{"type":"text","content":"\n \n \n \n Genius Metals Announces $1.5M Financing and Provides an Update on the Drilling Program at Sakami\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n CSE:GENI\n \n \n \n \n \n \n \n /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/\n \n \n \n \n MONTRÉAL,\n \n April 8, 2021\n \n /CNW Telbec/ - Genius Metals Inc. (CSE: GENI) (\"Genius Metals\" or the \"Corporation\") announces a non-brokered private placement offering (the \"\n \n Private Placement\n \n \") for gross proceeds of\n \n $1\n \n .5 M. The Company intends to focus on developing of the Sakami property with the proceeds raised as part of this private placement.\n \n \n \n \n \n \n \n \n \n In regard to the Private Placement, the Corporation will issue:\n \n \n \n Common share units (the \"\n \n Common Share Units\n \n \") at a price of\n \n $0.20\n \n per Common Share Unit, with each such unit being comprised of one common share and one common share purchase warrant (a \"\n \n Warrant\n \n \") entitling the holder to purchase one Common Share at an exercise price of\n \n $0.35\n \n for a period of eighteen months,\n \n \n \n \n Flow-Through Share (the \"\n \n Flow-Through Share\n \n \") at a price of\n \n $0.28\n \n per Flow-Through Share; and\n \n \n \n \n Flow-Through Share Units (the \"\n \n Flow-Through Share Units\n \n \") at a price of\n \n $0.30\n \n per Flow-Through Unit, with each such unit being comprised of one \"flow-through\" and one-half of one Warrant entitling the holder of one whole Warrant to purchase one Common Share at an exercise price of\n \n $0.40\n \n for a period of twelve months.\n \n \n \n \n \n Winter 2020 Geophysical Surveys\n \n \n \n \n Genius Metals has completed two geophysical surveys covering the area and extensions of the\n \n Lamarche\n \n prospect during the 2021 winter season. A high-resolution MAG survey, carried out by Vision4K on a 3 km x 1.7 km grid, revealed complex structural patter...