Great Plains Metals Announces Private Placement

Executive Summary

• Great Plains Metals Corp. announced a non‑brokered private placement of up to 22,222,222 units at $0.18 per unit, targeting gross proceeds of up to $4 million.
• Each unit consists of one common share and half of a warrant; the warrant allows purchase of an additional share at $0.28 within 24 months after closing.
• Proceeds will be used to advance Australian resource projects and for general working capital; the company also granted 300,000 incentive stock options to an officer at $0.20 per share.

Key Details

• Units Offered: Up to 22,222,222 units (each = 1 common share + ½ warrant).
• Pricing: $0.18 per unit; total potential gross proceeds of up to $4,000,000.
• Warrant Terms: Each whole warrant permits purchase of one common share at $0.28; exercisable any time up to 24 months after the closing date.
• Finder’s Fees: Up to 5% cash fee may be paid on certain orders, subject to TSX Venture Exchange policy and securities laws.
• Use of Proceeds: Advance resource projects in Australia and provide working capital.
• Regulatory Conditions: Subject to TSX Venture Exchange approval; securities will have a four‑month hold period.
• Incentive Stock Option Grant: 300,000 options granted to an officer; each option exercisable at $0.20 per share for five years from grant date; pending TSX Venture Exchange acceptance.

Notable Quotes

(No CEO/President quotes were included in the release.)