1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Press Release
Press Release
Articles 

Geomega Resources Inc.: Final Closing of a Private Placement

July 06, 2015 | About:

MONTREAL, QUEBEC--(Marketwired - Jul 6, 2015) - Further to the news release of June 19th, 2015 Geomega Resources Inc. ("GéoMégA" or the "Company") (TSX VENTURE:GMA) announces the final closing (the "Final Tranche") of a private placement consisting of 1,294,444 units (the "Units") at a price of $0.18 per Unit for aggregate gross proceeds of $233,000. Considering the first tranche of the private placement, the total gross proceeds are $1,068,840 (the "Private Placement").

The Company will use the proceeds of the Private Placement for surface exploration on its gold projects portfolio and working capital purposes.

Each Unit consists of one common share (a "Common Share") and one-half of one share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant entitles the holder thereof to acquire one additional common share at a price of $0.23 per share for a period of twenty-four (24) months from July 3rd, 2015 (the "Closing Date").

The Common Shares and Warrants acquired in the Final Tranche are subject to a hold period of four months plus one day from the Closing Date except as permitted by applicable securities legislation and the rules of TSX Venture Exchange.

The Company has the right to force the exercise of the Warrants if, after the hold period of four months plus one day, the volume weighted average price (VWAP) of the Common Share exceeds $0.50 for at least 10 days. Holders of Warrants shall have 30 days to exercise the Warrants following notification by the Company, failing which the Warrants will automatically expire.

About GéoMégA (www.geomega.ca)

GéoMégA is a mineral exploration and evaluation company focused on the discovery and sustainable development of economic deposits of metals in Québec. GéoMégA is committed to meeting the Canadian mining industry standards and distinguishing itself with innovative engineering, stakeholders' engagement and dedication to local transformation benefits.

62,203,116 common shares of GéoMégA are currently issued and outstanding.

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.

Cautions Regarding Forward-Looking Statements

This news release contains forward-looking statements regarding our intentions and plans. The forward-looking statements that are contained in this news release are based on various assumptions and estimates by the Company and involve a number of risks and uncertainties. As a consequence, actual results may differ materially from results forecasted or suggested in these forward-looking statements and readers should not place undue reliance on forward-looking statements. We caution you that such forward-looking statements involve known and unknown risks and uncertainties, as discussed in the Company's filings with Canadian securities agencies. Various factors may prevent or delay our plans, including but not limited to, contractor availability and performance, weather, access, mineral prices, success and failure of the exploration and development carried out at various stages of the program, and general business, economic, competitive, political and social conditions. The Company expressly disclaims any obligation to update any forward- looking statements, except as required by applicable securities laws.

Geomega Resources Inc.
Simon Britt
President and CEO
450-465-0099 ext. 4
[email protected]
Geomega Resources Inc.
Kiril Mugerman
Director of Corporate Development
450-465-0099 ext.3
[email protected]
www.geomega.ca

AccessTrackingLogServlet?PrId=1204884&so

Rating: 0.0/5 (0 votes)

Comments

Please leave your comment:


Performances of the stocks mentioned by Press Release


User Generated Screeners


cirrostop 6 pm
doonichDiv Yield
haldrobekMId-BigCaps_Pio8-9
ppapachristidismy ncav
ouya2Under Value
DBrizan19Jul2018 105a
Yamil BerardTepper's Leisure
jtepper2GrowthHighROC
gluon71gm-buylist-4
gluon71gm-buylist-3
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat

{{numOfNotice}}
FEEDBACK