- GMV Minerals Inc. (GMV) has closed its non-brokered private placement for gross proceeds of $450,000
- The company issued 4.5 million units priced at $0.10 per unit
- GMV will use the net proceeds of the financing to advance activities at its 100 per cent controlled Mexican Hat gold property located in southeast Arizona
- GMV Minerals Inc. (GMV) is trading steady at C$$0.08 as of 12:20 pm ET
GMV Minerals Inc. (GMV) has closed its non-brokered private placement for gross proceeds of $450,000.
The company issued 4.5 million units for $0.10 per unit. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional GMV common share at $0.16 within 24 months of the closing.
All securities issued have a four-month hold period expiring on October 24, 2022.
In addition to general working capital, GMV will use the net proceeds of the financing to advance activities at its 100 per cent controlled Mexican Hat gold property located in southeast Arizona.
GMV is focused on developing the asset and realizing the full mineral potential of the property through near-term gold production.
GMV Minerals Inc. (GMV) is trading steady at C$$0.08 as of 12:20 pm ET.