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Gem International Closed Private Placement and Granted Stock Options

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 24, 2017) – Gem International Resources Inc. (the “Company”) (TSX VENTURE:GI) has closed its non-brokered private placement through the issuance of 18,000,000 units at a price of $0.05 per unit for gross proceeds of $900,000. Each unit consists of one common share and one share purchase warrant. Each whole share purchase warrant entitles the holder to purchase one common share of the Company for a term of two years from the date of closing at a price of 15 cents per share. All of the securities issued under the private placement are subject to a four-month hold period expiring June 24, 2017.