VANCOUVER, BC, November 27, 2020 – GMV Minerals Inc. (the “Company” or “GMV”) (TSX-V: GMV) (OTCQB: “GMVMF”) In connection with the Company’s recent private placement offering of units, Darrell Oswald (the “purchaser”), an arm’s length purchaser, and all persons acting jointly or in concert with the purchaser, have acquired, directly and indirectly, 500,000 common shares of the Company (the “Shares”) and warrants to purchase up to an additional 250,000 Shares of the Company (the “Warrants”), representing approximately 1.3% of the total issued shares of the Company on a diluted basis (assuming exercise of these Warrants only).
The purchaser, and all persons acting jointly or in concert with the purchaser, previously held 3,854,850 common shares, warrants to purchase up to an additional 1,712,500 common shares, representing approximately 9.6% of the then issued and outstanding common shares of the Company. After the recent purchases described above, the purchaser now holds or has control or direction over a total of 4,354,850 common shares and 1,962,500 warrants, representing approximately 10.7% of the total issued and outstanding common shares of the Company on a diluted basis (assuming the exercise of the Warrants jointly held). The purchaser intends to hold the Shares and Warrants for investment purposes. Depending upon market conditions and other factors, the purchaser may from time to time acquire additional securities of the Company, dispose of some or all of the existing or additional securities it holds in the Company, or will hold or may continue to hold its current position.
Additional information concerning the foregoing is contained in the Early Warning Report filed by the purchaser on SEDAR under the Company’s profile.
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.