GPM Metals Inc. Closes Private Placement Financing to Raise $960,000
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S./
TORONTO, May 27, 2015 /CNW/ - GPM Metals Inc. (TSX-V:GPM) (the "Company") is pleased to announce that has closed its previously announced non-brokered private placement (the "Offering") pursuant to which it issued 12,000,000 units ("Units") at a price of $0.08 per Unit, to raise aggregate gross proceeds of $960,000. Each Unit consists of one common share of the Company (a "Common Share") and one-half of one share purchase warrant of the Company, each whole such share purchase warrant entitling the holder thereof to acquire one additional Common Share for a period of 24 months at an exercise price of $0.14 per share. All securities issued and issuable pursuant to the Offering are subject to a statutory hold period expiring September 28, 2015.
The Offering remains subject to the final approval of the TSX Venture Exchange.
About GPM Metals Inc.
GPM Metals Inc. focuses on acquiring and exploring district scale exploration properties. Currently the two main projects are the Company's Walker Gossan Project, NT. Australia, and the Weebigee Gold Project, Sandy Lake, Ontario.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company, including, but not limited to the impact of general economic conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
SOURCE GPM Metals Inc.
Contact
GPM Metals Inc., Suite 301, 141 Adelaide Street West, Toronto, Ontario, M5H 3L5; Attn: John Patrick Sheridan, Tel: (416) 628 5904, Fax: (416) 628 5935, E-mail: info@gpmmetals.ca