Each Unit consisted of one (1) common share and one-half (1/2) common share purchase warrant (“Warrant”). Each whole Warrant will entitle the holder to acquire an additional common share at a price of $0.15 for a period of twelve (12) months.
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.
All securities issued in conjunction with the Offering are subject to a four-month statutory hold period in Canada.
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 inferred mineral resource of 23,452,000 tonnes grading 0.70 grams of gold per tonne hosting 531,400 troy ounces of gold. The project was initially explored by Placer Dome (USA) in the late 1980’s to early 1990’s. GMV is focused on developing the asset and realizing the full mineral potential of the property through near term gold production.
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 or has in any way passed upon the merits of the transaction and has neither approved nor disproved the contents of this press release.
For further information please contact:
GMV Minerals Inc.
Tel: (604) 899-0106
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