|Genius Properties Ltd.
CNSX : GNI
June 21, 2016 09:20 ET
MONTREAL, QUEBEC–(Marketwired – June 21, 2016) – Genius Properties Ltd. (“Genius” or the “Corporation“) (CSE:GNI) pleased to announce that it has closed a first tranche of 30 Units (as defined hereinafter) for gross proceeds of $150,000 (the “First Tranche“) of a non-brokered private placement for total gross proceeds of up to $1,250,000 (the “Offering“). The Offering consists of up to 9,375,000 common shares of the Corporation issued on a flow-through basis (each a “Flow- Through Shares“) at a price of $0.08 per Flow-Through Share for gross proceeds of up to $750,000. Concurrently, the Corporation will also be offering up to an additional 70 units (each a “Unit“) at a price of $5,000 per Unit for gross proceeds of up to $500,000.
Each Unit consists of 100,000 common shares of the Corporation (each a “Share“) and 100,000 transferable Share purchase warrants. Each warrant will entitle the holder to purchase (1) one additional Share at an exercise price of $0.10 per share during the 12 months from the closing date.
The Corporation intends on using the net proceeds from the private placement to continue advancing its projects and for general corporate purposes.
All Shares issued pursuant to this First Tranche will be subject to a hold period of four months and one day from their date of issuance and as such are restricted from trading until October 22, 2016.
About Genius Properties
Genius is one Canadian mineral exploration company focused on developing projects with some of the world’s most critical metals and minerals, Genius have team and potential to discover new world-class deposits. Also, Genius is the ideal partner for exploration companies and capital pool companies looking for a qualifying transaction and projects of merit.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.