Genius Announces Closing of Its Private Placement
04 Jul. 2014
MONTREAL, QUEBEC--(Marketwired - July 4, 2014) - Genius Properties Ltd. ("Genius" or the "Corporation") (CSE:GNI) is pleased to announce that it has closed the non-brokered private placement previously announced on July 3, 2014. Genius has raised total gross proceeds of $217,500 through the non-brokered private placement of 870,000 of its common shares and 300,000 common share purchase warrants. Each warrant is exercisable by the holder into one common share of the Corporation at a price of $0.22 per common share for a period of 18 months from the closing date.
The proceeds of the private placement will be used for general corporate purposes.
All securities issued in the private placement are subject to a four month hold period.
About Genius Properties
Genius is primarily 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 qualified transaction projects of merit. Genius intends to enter into various types of agreements on its properties. Management is currently evaluating, through specialized wholly-owned subsidiaries of the Corporation, other opportunities in other markets and industries having a strong growth potential to enhance shareholder value in the short term.
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 Genius' 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.
Undue reliance should not be placed on forward-looking information which is inherently uncertain, and subject to known and unknown risks and uncertainties (both general and specific) and other factors that contribute to the possibility that the future events or circumstances contemplated by the forward looking information will not occur or that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. These risks include, but are not limited to risks associated with general economic conditions, the actual results of current exploration activities, conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future metal prices, financial risks and substantial capital requirements. Further information regarding certain of these risks (as well as risks relating generally to the Company's business) may be found under the headings "Risks and Uncertainties", "Forward-Looking Information" and "Financial risk factors" in the latest Company's Management's Discussion & Analysis on www.sedar.com. Readers are cautioned that the foregoing list of factors that may affect future results is not exhaustive. The forward-looking statements contained in this news release are made as of the date hereof and GNI does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
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.