Gaia Metals Corp. Closes Over-Subscribed Non-Brokered Private Placement
(firmenpresse) -
Vancouver, July 17, 2020 - Gaia Metals Corp. (the Company) (TSX.V: GMC) (OTCQB: RGDCF) (FSE: R9G) is pleased to announce that it has closed an over-subscribed non-brokered private placement financing (the Private Placement) for total gross proceeds of $603,000.
The Company has allotted and issued 8,040,000 units (the Units) at a price of $0.075 per Unit. Each Unit is comprised of one common share and one transferable share purchase warrant, with each warrant entitling the holder to purchase one additional common share of the Company for a period of up to 2 years at a price of $0.12.
In addition, the Company paid finders fees of a total of $19,410 and issued 258,800 finders warrants to arms length third parties, with each finders warrant entitling the holder to purchase one common share of the Company for a period of up to 2 years at a price of $0.12.
The Company intends to use the proceeds from the Private Placement towards advancing its mineral projects and general working capital. All securities issued under the Private Placement are subject to a four-month and one-day hold period expiring on November 18, 2020. The Private Placement is subject to final TSX Venture Exchange approval.
A portion of the Private Placement constitutes a related party transaction within the meaning of Exchange Policy 5.9 and Multilateral Instrument 61-101 -Protection of Minority Security Holders in Special Transactions (MI 61-101) adopted in the Policy. The Company has relied on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in respect of related party participation in the Private Placement.
About Gaia Metals Corp.
Gaia Metals Corp. is a mineral exploration company focused on the acquisition and development of mineral projects containing base and precious metals, including platinum group elements, and lithium.
The Companys primary assets are the wholly owned Corvette Property, and the FCI Property (held under Option from O3 Mining Inc., a recent spin-out from Osisko Mining Inc., for a 75% interest) located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-silver-copper-PGE-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in outcrop, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC; the Golden Silica Property, BC; and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
For further information, please contact Adrian Lamoureux, President & CEO at Tel: 778-945-2950, E-mail: adrian(at)gaiametalscorp.com or visit www.gaiametalscorp.com.
On Behalf of the Board of Directors,
ADRIAN LAMOUREUX
Adrian Lamoureux, President & CEO
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 news release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, forward-looking statements. Forward-looking statements may be identified by words including anticipates, believes, intends, estimates, expects and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Companys future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
Leseranfragen:
Gaia Metals Corp. is a mineral exploration company focused on the acquisition and development of mineral projects containing base and precious metals, including platinum group elements, and lithium.
" alt="Mountain Valley MD Holdings Inc. Completes Intellectual Property Asset Transfer, Solidifies Quicksome Technology
Datum: 17.07.2020 - 22:06 Uhr
Sprache: Deutsch
News-ID 616758
Anzahl Zeichen: 4203
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 218 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Gaia Metals Corp. Closes Over-Subscribed Non-Brokered Private Placement
"
steht unter der journalistisch-redaktionellen Verantwortung von
Gaia Metals Corp. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
