GMV Minerals closes $4.53-million private placement

Executive Summary

• GMV Minerals Inc. has closed a non-brokered private placement, raising $4,530,500 in gross proceeds through the sale of 22,652,500 units.
• The net proceeds will be utilized for the exploration and development of the Mexican Hat gold project in Arizona and for general working capital.
• The offering includes common shares and warrants, with specific finder fees paid to financial advisors, and remains subject to final approval by the TSX Venture Exchange.

Key Details

• Transaction Structure: Non-brokered private placement closed pursuant to Part 5A of National Instrument 45-106.
• Units Sold: 22,652,500 units.
• Price: 20 cents per unit.
• Gross Proceeds: $4,530,500.
• Unit Composition: Each unit consists of one common share and one-half of a common share purchase warrant.
• Warrant Terms (Investors): Each full warrant entitles the holder to acquire one additional common share at an exercise price of 35 cents per share for a period of 30 months after closing.
• Exemptions: Units subscribed under the listed issuer financing exemption (LIFE); no statutory hold period in Canada for investor units.
• Finder Fees:
  • Cash: $214,235 paid to Canaccord Genuity Corp., Red Cloud Securities Inc., Research Capital Corp., Haywood Securities Inc., and Ventum Financial Corp.
  • Equity: 1,071,175 non-transferable finder warrants issued to the same firms.
  • Finder Warrant Terms: Each finder warrant entitles the holder to acquire one common share at 20 cents per share for 30 months from closing.
  • Finder Warrant Hold Period: Subject to a statutory hold period expiring four months and one day from the date of closing.
• Use of Proceeds: Furthering exploration and development of the Mexican Hat gold project (southeastern Arizona) and general working capital.
• Regulatory Status: Subject to final approval of the TSX Venture Exchange.
• Insider Participation: No insiders participated in the offering.

Notable Quotes

• No direct quotes from the CEO or President were included in the provided text.