Genius Closes Non-Brokered Private Placement for Gross Proceeds of $200,000
MONTREAL, QUEBEC--(Marketwired - Dec. 30, 2015) - Genius Properties Ltd. (the "Corporation") (CSE:GNI) is pleased to announce it has closed the previously announced (December 29, 2015) a non-brokered private placement (the "Private Placement") of 2,000,000 units (the "Units") at a price of $0.10 per Unit. Each Unit consists of one common share of the Corporation and and one common share purchase warrant (the "Warrant"). Each Warrant is exercisable to acquire one common share of the Corporation ("Common Share") at an exercise price of $0.30 per Common Share for a period of 18 months after the date of closing of the transaction.
All securities issued in the Private Placement will be subject to a four-month hold, pursuant to applicable securities laws. Closing of the Private Placement is subject to regulatory approval.
About Genius Properties
Genius is targeting Quebec's excellent mineral potential to discover new world-class deposits. Genius is the ideal partner for exploration companies and capital pool companies looking for a qualifying transaction and projects of merit.
This news release contains forward-looking information within the meaning of applicable Canadian securities laws. All information other than historical fact is forward-looking information. Forward-looking information relates to future events or future performance and is based on GNI current internal expectations, estimates, projections, assumptions and beliefs. Forward-looking information is often, but not always, identified by the use of words such as "expect", "project", "proposed", "intend", "seek", "anticipate", "budget", "plan", "continue", "estimate", "forecast", "may", "will", "predict", "potential", "targeting", "could", "might", "should", "believe" and similar expressions. Although management considers the assumptions and estimates, reflected in forward-looking information, to be reasonable, based on information currently available, there can be no assurance that such information will prove to be correct. As a consequence, actual results may differ materially from those anticipated.
The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release.
President and CEO