GMV Minerals Inc. Announces Closing of its Non-Brokered Private Placement
VANCOUVER, BC, August 14, 2014 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V:GMV) is pleased to announce that it has completed its previously announced (see news release of July 4, 2014) non-brokered private placement. Under the Private Placement, the Company issued 4,437,500 units at a price of $0.08 per unit for gross proceeds of $355,000. Each unit is comprised of one common share and one whole warrant.
Each whole warrant will be exercisable at $0.11 (CAD) to purchase an additional common share (each a Warrant Share) for a period of 18 months following the Closing Date.
The net proceeds of the Offering will be used to advance exploration activities at the Company’s 100% owned Mexican Hat gold property located in S.E. Arizona as well as for general working capital.
Finder’s fees of 8% cash and 8% warrants will be paid on a portion of the Offering pursuant to the policies of the TSX Venture Exchange.
About GMV Minerals Inc.
GMV Minerals Inc. is a publicly traded exploration company focused on developing precious metal assets in Arizona. GMV, through its 100% owned subsidiary, has a 100% interest in a Mining Property Lease commonly referred to as the Mexican Hat project, located in Cochise County, Arizona, USA. The Mexican Hat property contains an historic gold resource, which was initially explored by Placer Dome (USA) in the late 1980’s to early 1990’s. GMV is focused on developing the asset by confirming the presence of the historic resources and realizing the full mineral potential of the property through near term gold production.
ON BEHALF OF THE BOARD OF DIRECTORS
Ian Klassen, President
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
GMV Minerals Inc.
Tel: (604) 899-0106
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES —
This news release may contain forward-looking statements based on assumptions and judgments of management of the Company regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements except as may be required by law.