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Genius Metals Completes Second Tranche of Financing

Press Release

MONTRÉAL, QUÉBEC, CANADA — Genius Metals Inc. (TSXV: GENI) (“Genius Metals” or the “Corporation”) announces it has added $56,000 to its initial non-brokered private placement offering closed on November 28, 2022 (see news release dated on December 1st, 2022). The second tranche brings the total proceeds of this offering to $691,000 (the “Private Placement”).

Under the second tranche closed on December 13, 2022, the Corporation issued:

  • 600,000 units of the Corporation (the “Units”) at a price of $0.05 per Unit, with each such unit being comprised of one common share of the Corporation (“Common Share”) and one common share purchase warrant entitling the holder thereof to purchase one Common Share at an exercise price of $0.15 until December 13, 2024; and
  • 433,340 common shares issued as “flow through shares” (the “Flow Through Shares”) at a price of $0.06 per Flow-Through Share.

The Corporation will use the net proceeds of the sale of Flow Through Shares to incur qualifying expenditures on its Quebec properties, and the net proceeds of the sale of Units for exploration on its mining properties and general working capital purposes.

All securities issued pursuant to the Private Placement are subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of their issuance.

The Private Placement remains subject to the final approval of the TSX Venture Exchange (“TSXV”).

About Genius Metals

Genius Metals is a Canadian mineral exploration company focused on the acquisition, exploration and, if warranted, development of natural resource properties of merit in Canada.

Contact Information

Genius Metals Inc.

Tel.: 579-476-7000

Pierre-Olivier Goulet
Vice-President Corporate Development
1-450-821-5270

Guy Goulet
President and CEO
1-514-294-7000

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