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Genius Metals Inc. Announces Private Placement Offering of Common Share Units
Genius Metals Inc. Announces Private Placement Offering of Common Share Units Canada Ne...
About this update from Morocco Strategic Minerals Corporation
[{"type":"text","content":"\n \n \n \n Genius Metals Inc. Announces Private Placement Offering of Common Share Units\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 /NOT FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/\n \n \n \n \n \n MONTRÉAL\n \n ,\n \n \n June 16, 2023\n \n \n /CNW/ - Genius Metals Inc. (TSXV: GENI) (\"Genius Metals\" or the \"Corporation\") announces its intention to complete a non-brokered private placement offering (the \"\n \n Private Placement\n \n \") for gross proceeds of\n \n $1 million\n \n .\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 $0.05\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 $0.10\n \n for a period of 24 months,\n \n \n \n \n Flow-Through Shares (the \"\n \n Flow-Through Share\n \n \") at a price of\n \n $0.06\n \n per Flow-Through Share;\n \n \n \n The net proceeds of the sale of Flow-Through Shares will be used by the Corporation to incur qualifying exploration expenses on its mining properties in\n \n Quebec\n \n and the net proceeds of Common Share Units will be used by the Corporation to incur exploration expenses and for general working capital purpose.\n \n \n All securities issued in connection with the Offering will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.\n \n \n The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the \"U.S. Securities Act\") or any U.S. state securities laws, and may not be offered or sold in\n \n the United States\n \n or to, or for the account or benefit of,\n \n United States\n \n persons absent registration or any applicable...