Genius Metals Closes Private Placement for a total amount of $757,000

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES MONTREAL, Oct. 04, 2024 (GLOBE NEWSWIRE) -- Genius Metals Inc. (TSXV:GENI) ("Genius Metals" or the "Corporation") is pleased to announce the closing of a non-brokered private placement previously announced on September 24, 2024, raising total gross proceeds of $757,000 through the issuance of 9,462,500 units of the Corporation ("Units") at a price of $0.08 per Unit (the "Offering"). Each Unit consists in one common share of the Corporation (a "Common Share") and one half of one Common Share purchase warrant (a "Warrant"). Each whole Warrant entitles its holder to purchase one Common Share at an exercise price of $0.12 per Common Share for a period of 24 months. All securities issued in connection with the Offering are subject to a statutory hold period ending four-month-and-one-day from the date of their issuance, in accordance with applicable securities laws. The Offering remains subject to final approval from the TSX Venture Exchange ("TSXV"). In connection with the Offering, the Corporation paid finder fees to arm's length third parties in an amount of $13,020. The Corporation intends to allocate the net proceeds from the Offering towards ...