Genius Properties Limited: Closes Flow-Though Private Placement
30.12.2016 | Marketwire
MONTRÉAL, Dec. 30, 2016 - Genius Properties Limited ("Genius" or the "Corporation") (CSE:GNI) is pleased to announce, further to its news release dated December 9, 2016, that it has completed, subject to regulatory and CSE final approval, the private placement (the "Offering") of flow-though shares (the "FT Shares") of the Corporation at a price of $0.05 for gross proceeds of $317,900, of which $190,000 was completed as a brokered offering with Leede Jones Gable Inc. as the lead agent and sole bookrunner (the "Agent").The Corporation intends to use the proceeds of the Offering for work expenditures.
The Agent received a cash commission of $15,200 representing 8.0% of the gross proceeds of the sale of FT Shares placed by it. The Agent also received 304,000 common share purchase warrants (the "Agent's Warrants"). Each Agent's Warrant entitles the holder thereof to acquire a Common Share at a price of $0.05 for a period of 24 months from the closing date. The Corporation also paid a finder's fee of $7,832.
All securities issued in connection with the Offering are subject to a four month hold period expiring May 1, 2017.
About Genius Properties
Genius is a Canadian mineral exploration company focused on developing projects with some of the world's most critical metals and minerals for use in various industries including in particular, batteries for storing electrical energy and the raw materials essential for Lithium-ion battery production.
Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
Contact
Genius Properties Limited
Jimmy Gravel, President & CEO
jgravel@geniusproperties.ca