Business
Genius Metals Inc. Completes a Second Tranche of a Non-Brokered Private Placement
Genius Metals Inc. Completes a Second Tranche of a Non-Brokered Private Placement ...
About this update from Morocco Strategic Minerals Corporation
[{"type":"text","content":"\n\n\n\nGenius Metals Inc. Completes a Second Tranche of a Non-Brokered Private Placement\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\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Dec. 31, 2019\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/  \n MONTREAL, Dec. 31, 2019 /CNW/ - Genius Metals Inc. (CSE: GENI) (\"Genius Metals\" or the \"Corporation\") completed the second tranche of a non-brokered private placement offering (the \"Private Placement\") for gross proceeds of $215,000.\n\n \n \n\n \nUnder the first and second tranches of the Offering, Genius Metals raised aggregate gross proceeds of $775,500. \nUnder the second tranche of the Offering, Genius Metals issued and sold:\n860,000 Flow-Through Share Units (the \"Flow-Through Share Units\") at a price of $0.25 per Flow-Through Unit, with each such unit being comprised of one \"flow-through\" Common Share and one-half of one common share purchase warrant entitling the holder of one whole warrant to purchase one Common Share at an exercise price of $0.30 for a period of eighteen months.The net proceeds of the Private Placement will be used principally for exploration campaigns on the Sakami and Iserhoff properties in Quebec. \nIn connection with the second tranche of the Private Placement, the Corporation paid finder's fees to arm's length third parties in the amount of $6,300.\nAll securities issued pursuant to the Private Placement are subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of their issuance.\nAbout Genius Metals\nGenius Metals is a Canadian mineral exploration company focused on the acquisition, exploration and, if warranted, development of natural resource properties of merit in Canada.\nThe CSE has in no way passed upon the merits of the transactions and has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider accepts res...