Business
Genius Metals Provides Update on Non-Brokered Private Placement
Genius Metals Provides Update on Non-Brokered Private Placement Canada NewsWire ...
About this update from Morocco Strategic Minerals Corporation
[{"type":"text","content":"\n \n \n \n Genius Metals Provides Update on Non-Brokered Private Placement\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 \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 Aug. 23, 2023\n \n \n /CNW/ - Genius Metals Inc. (TSXV: GENI) (\"Genius Metals\" or the \"Corporation\") provides an update on the private placement announced in the press release dated\n \n August 7, 2023\n \n .\n \n \n \n \n \n \n \n \n \n The Company announced its intention to complete a non-brokered private placement offering (the \"Offering\") of up to 8,000,000 units of the Corporation (the \"Units\") at a price of\n \n $0.05\n \n per Unit for aggregate gross proceeds of up to\n \n $400,000\n \n . Each Unit will be comprised of one common share (a \"Common Share\") and one Common Share purchase warrant (a \"Warrant\") in the capital of the Corporation. Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of\n \n $0.10\n \n per share for a period of 24 months from the closing date of the Offering.\n \n \n The Company is in discussions with investors and expects to close the Private Placement no later than\n \n September 20, 2023\n \n , subject to receipt of all necessary approvals, including the final approval of the TSX Venture Exchange (\"TSXV\").\n \n \n The net proceeds will be used by the Corporation to incur exploration expenses and for general working capital purposes.\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...