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Genius Metals Completes a $700K First Tranche of Financing, Secures a Diamond-Drilling Contract for Sakami and Extends the Exercise Period of Outstanding Warrants
Genius Metals Completes a $700K First Tranche of Financing, Secures a Diamond-Drilling Co...
About this update from Morocco Strategic Minerals Corporation
[{"type":"text","content":"\n \n \n \n Genius Metals Completes a $700K First Tranche of Financing, Secures a Diamond-Drilling Contract for Sakami and Extends the Exercise Period of Outstanding Warrants\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.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n CSE:GENI\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 May 4, 2021\n \n /CNW Telbec/ - Genius Metals Inc. (CSE: GENI) (\"Genius Metals\" or the \"Corporation\") completed a first tranche of a non-brokered private placement offering (the \"\n \n Private Placement\n \n \") for gross proceeds of\n \n $707,898\n \n . The Corporation intends to focus on developing the Sakami property with the proceeds raised as part of this private placement. Also, the Corporation is pleased to announce that it has secured a drilling contract to perform 2,000m to\n \n 3,000m\n \n of diamond-drilling on the prospective targets of\n \n Lamarche\n \n and GoldenEye of the Sakami property, set to begin in the month of\n \n June 2021\n \n . Finally, the Corporation announces that it will be extending the exercise period of a total of 2,370,000 common share purchase warrants, all of which are exercisable at\n \n $0.30\n \n per share (collectively, the \"Warrants\").\n \n \n \n \n \n \n \n \n \n \n Summer Drilling Program\n \n \n \n Genius Metals is pleased to announce that it has entered into an agreement with Forage G4 based in\n \n Val d'Or, Quebec\n \n to carry out a\n \n 2,000m\n \n to\n \n 3,000m\n \n diamond-drilling campaign focused on the gold-prospective\n \n Lamarche\n \n and GoldenEye prospects. Drilling targets were defined using the data provided by recently completed mapping, rock sampling, channel sampling and geophysical surveys. The campaign is set to begin at the end of June after completing a small exploration campaign to validate and expand the gold-prospective prospects and showings. The drilling and exploration programs are to be planned and supervised...