Geomega Resources Inc. Announces $750,000 Bridge Loan by SIDEX
Saint-Lambert, Quebec CANADA, May 10, 2013 /FSC/ - GeoMegA Resources Inc. (GMA - TSX Venture), ("GeoMegA" or the "Corporation") announces the grant of a $750,000 loan by SIDEX, Limited Partnership ("SIDEX").
The loan is secured by GeoMegA's tax credits receivable from Revenu Quebec for the fiscal year ended in 2012 and related to mineral exploration. The loan must be repaid upon the receipt of said tax credits and bears interest at an annual rate of 8%.
In connection with the loan, GeoMegA issued 250,000 common shares to SIDEX. According to applicable securities legislation, each common share will be subject to the required hold period of four months plus on day from the closing date.
GeoMegA currently has 34,990,113 common shares issued and outstanding.
About GeoMegA (ressourcesgeomega.ca)
GeoMegA, which owns 100% of the Montviel Rare Earths/Niobium project, is a Quebec mineral exploration and development company focused on the discovery and sustainable development of economic deposits of minor metals, such as Rare Earth Elements, Niobium and Graphite, in Quebec. GeoMegA is committed to meeting Canadian mining industry standards and distinguishing itself with its expertise, know-how and its support and respect for local communities and the environment.
About SIDEX Limited Partnership
SIDEX was established by the Government of Quebec and the Solidarity Fund QFL. The mission of SIDEX is to invest in companies engaged in mineral exploration in Quebec in order to diversify Quebec's mineral base, encourage new exploration models, stimulate investment for new commodities in existing districts and open new territories with high potential for discovery.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Simon Britt
President and CEO
GeoMegA
450-465-0099
info@ressourcesgeomega.ca
To view this press release as a PFD, please click on the following link:
http://www.usetdas.com/pr/geomega05102013.pdf
Source: GeoMegA Resources Inc. (TSX:V - GMA) http://www.ressourcesgeomega.ca/
Maximum News Dissemination by FSCwire. http://www.fscwire.com