11:11:34 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



GeoNovus Minerals Corp
Symbol GNM
Shares Issued 39,589,402
Close 2014-09-03 C$ 0.05
Market Cap C$ 1,979,470
Recent Sedar Documents

GeoNovus closes private placement for $577,250

2014-09-03 17:42 ET - News Release

Mr. Michael England reports

GEONOVUS CLOSES PRIVATE PLACEMENT

Further to the news releases dated July 18, 2014, Aug. 8, 2014, and Aug. 28, 2014, GeoNovus Minerals Corp. has completed its non-brokered private placement of 11,545,000 units at a price of five cents per unit for gross proceeds of $577,250.

Each unit is composed of one common share and one share purchase warrant of the company. Each warrant will entitle the holder to purchase one share at a price of 10 cents per warrant share until Sept. 3, 2016, subject to acceleration (as defined herein). After four months have elapsed from the date of issuance of the units, if the company's closing sales price of the shares (or the closing bid, if no sales were reported on a trading day) as quoted on the TSX Venture Exchange (or such other stock exchange, quotation system or market on which the shares are listed and where a majority of the trading volume of the shares occurs) equals or exceeds 15 cents for a period of 20 consecutive trading days, the company may, within five days of such event, provide notice by way of a news release to the subscriber of early expiry, and thereafter such warrants shall expire on that date which is 30 days from the date such notice is given.

In connection to the offering, the company issued a total of 34,800 finders' warrants to purchase up to 34,800 shares at a price of 10 cents per share for a period of 12 months, subject to the acceleration. In addition, the company paid cash commissions to the finders totalling $1,740.

All securities issued pursuant to the private placement are subject to a hold period expiring on Jan. 4, 2015.

Further to the news release dated Aug. 28, 2014, the company anticipates that its common shares will be delisted from trading on the TSX Venture Exchange at the close of business on Sept. 5, 2014, with trading of its common shares on the Canadian Securities Exchange to commence on Sept. 8, 2014, under the symbol GNM.

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