GPM Metals Inc. Announces the Grant of Stock Options

TORONTO, ON-(March 3, 2017) – GPM Metals Inc. (TSX VENTURE: GPM) (the “Company”) announces that it has granted effective March 2, 2017 an aggregate of 3,350,000 options to directors, employees and consultants of the Company with such options being exercisable at a price of $0.15 per share until March 2, 2020.

The options vest as to 25% immediately and 25% after 6, 12 and 18 months respectively from the date of grant.

 

About GPM Metals

GPM Metals is a zinc focused exploration company.

The Company’s current holdings include the district scale Walker Gossan Project, NT., Australia, a joint venture with Rio Tinto Exploration PTY Limited; and the Pasco Project, Department of Pasco, Peru.

Both projects are advanced exploration properties with drill ready targets and have considerable potential host significant zinc resources.

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for this release.

 

For further information:

J. Patrick Sheridan

1205 -141 Adelaide Street West

Toronto, ON. Canada

M5H 3L5

Phone 416.628.5904

[email protected]

GPM METALS PROVIDES EXPLORATION UPDATE FROM THE FIRST TARGET OF THE WALKER GOSSAN DRILL PROGRAM – MCARTHUR BASIN, NORTHERN TERRITORY, AUSTRALIA.

Toronto – November 18, 2016 – GPM Metals Inc. (TSXV:GPM) (the “Company” or “GPM”) announces that seven diamond drill holes for 953 meters have been completed at the Walker Gossan Project (“WGP”) in the Northern Territory.

The project is a joint venture / earn in agreement between the Company and Rio Tinto Exploration PTY Ltd. (see January 27, 2014 press release of the Company available on SEDAR at www.sedar.com).

GPM is conducting exploration for SEDEX style base metal mineralisation in the Walker Fault Zone, a Proterozoic sedimentary basin which is the northern most of a series of extensional basins stepping NW from  Mt Isa and which host the lead-zinc-silver mines at Mt Isa, George Fisher, Lady Loretta, Century and McArthur River.

Drilling was conducted over 3200m of strike length (hole WD#7 to WD#4) and 1200m – east to west (hole WD #7 to hole WD#5). Drilling is targeting SEDEX style base metal mineralization.

Drill hole locations, section diagrams and assay tables are found on the company’s web site.

www.gpmmetals.ca/australia

The drill holes tested the Balbirini Fm which hosts the “gossan”, an iron and silica altered carbonate unit, and down sequence through a carbonaceous siltstone and basal sandstone which unconformably overlies the Jalma Fm sediments. Stratigraphic thickness from the top of the ferruginous dolostone to the basal unconformity is approximately 35m.  Thickness of the Jalma Fm is approximately 110m.

The drill targets are being identified by systematic mapping, sampling, airborne magnetics and ground IP surveys.

The initial target area has encouraging surface geochemistry with soil and chip sample results of anomalous lead, including a 1400m long contour of plus 500ppm lead with a maximum of 2800ppm lead. Rock chips have confirmed the soil results with values as high as 1.8% lead. (see November 19, 2015 press release of the Company available on SEDAR at www.sedar.com).

The presence of pyritic, carbonaceous siltstones and base metal mineralisation has been confirmed in this programme. A basin margin fault to the west of the drilled area is interpreted from airborne magnetics and a recently conducted ground gravity survey and will be tested during the RC drill programme.

Assays are consistent with surface geochemical sampling and are typical of a sulphur poor outflow zone of a SEDEX style base metal system. The intense sideritic (iron carbonate) alteration observed is generally found proximal to mineralisation in SEDEX systems. To date 584 samples from holes WD#1 to 6 have been cut and assayed on 0.5 and 1m intervals. Assays for DDH- WD#7 are pending. The second phase of reverse circulation (RC) percussion drilling has now commenced.

The RC drilling will infill the wide spaced diamond drill pattern and then move northwest to test a combined magnetic and gravity anomaly.

The North – South trending magnetic and gravity anomaly is located 5km north of WD#7 and 1.5km west and down-dip of the outcropping gossanous Balbirini Fm. This anomalous feature is interpreted to be a basin margin fault and the potential major conduit for mineralising fluids.

Although early in our current exploration campaign, we are encouraged by the large volume of sideritic (iron carbonate) alteration encountered, and the presence of pyritic carbonaceous sediments in the Balbirini and Jalma Fm, confirming the potential to host a significant SEDEX style deposit.

Initial observations from drilling on EL 24305 point to the target mineralisation being located down dip (basin-ward / to the west) on the adjacent ELA 30956 tenement. ELA 30956 is currently held under application by Rio and forms part of the earn in ground.

Meetings to progress several applications to grant are scheduled for 2017 and GPM anticipates the results of this current successful programme to impact those in a positive manner.

“Initial drilling has shown that we are in a very large SEDEX style alteration system with potential to host a significant discovery. I am confident that with the information at hand and the results from the continuing drilling, that we will be able to vector into the core of the mineralisation“ said Patrick Sheridan Jr., Executive Chairman and CEO of GPM Metals.

 

About GPM Metals Inc.

GPM Metals is a zinc focused exploration company with offices in Toronto, Brisbane and Lima.

The Company’s current holdings include the district scale Walker Gossan Project, NT, Australia, a joint venture with Rio Tinto Exploration Pty Limited; and the Pasco Project, Department of Pasco, Peru.

Both projects are advanced exploration properties with drill ready targets and have considerable potential to host significant zinc resources.

 

All scientific and technical information in this press release has been prepared under the supervision of Dan Noone, (Vice President Exploration and a Director of GPM), a “qualified person” within the meaning of National Instrument 43-101. Mr. Noone (B.Sc Geology, MBA) is a member of the Australian Institute of Geoscientists.

 

For further information contact:

 

GPM Metals Inc.

Att: John Patrick Sheridan, CEO

Suite 1205 – 141 Adelaide Street West,

Toronto, Ontario M5H 3L5

Telephone : (416) 628-5904

Email: [email protected]

 

Forward Looking Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “might”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information and/or statements.  Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of GPM which have been used to develop such statements and/or information but which may prove to be incorrect. Although GPM believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as GPM can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: results from planned exploration and drilling activities; GPM’s future plans for operational expenditures; the accuracy of the interpretations of exploration and drilling activity results; availability of financing to fund current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which GPM has property interests; the general continuance of current industry conditions; aboriginal matters; the timely receipt of any required regulatory approvals; the ability of GPM to obtain qualified staff, equipment and/or services in a timely and cost efficient manner; the ability of the operator of each project in which GPM has property interests to operate in a safe, efficient and/or effective manner and to fulfill its respective obligations and current plans; future commodity prices; currency, exchange and/or interest rates; and the regulatory framework regarding royalties, taxes and/or environmental matters in the jurisdictions in which GPM has property interests. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: risks associated with the uncertainty of exploration results and estimates, currency fluctuations, the uncertainty of conducting operations under a foreign regime, exploration risk, the uncertainty of obtaining all applicable regulatory approvals, the availability of labour and/or equipment, the fluctuating prices of commodities, the availability of financing and GPM’s dependence on its management personnel, other participants in the property areas and/or certain other risks detailed from time-to-time in GPM’s public disclosure documents, (including, without limitation, those risks identified in this news release and GPM’s current management’s discussion and analysis). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and / or accuracy of this release

GPM Metals Inc. Respond to Goldeye Explorations Limited’s Notice to Demand for Arbitration

October 14, 2016 (Toronto, Ontario):  GPM Metals Inc. (“GPM“) (TSXV:GPM) announces that the Company has responded to Goldeye Explorations Ltd. Notice to Demand for Arbitration, dated September 14, 2016.

GPM will provide further updates as they occur.

For further information please contact:

 

John Patrick Sheridan

Chief Executive Officer

(416) 628-5904 xt 2004

Email: [email protected]

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and / or accuracy of this release.

 

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of GPM, including, but not limited to the failure to complete the Offering as currently proposed or at all, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, changes in the proposed use of proceeds of the Offering and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

 

GPM Metals Inc. Announces Distribution of Sandy Lake Shares

September 16, 2016 (Toronto, Ontario) GPM Metals Inc. (“GPM” or the “Company“) (TSX VENTURE: GPM) announces it has completed its previously announced distribution (the “Distribution”) to its shareholders of an aggregate of 39,999,958 common shares (the “Consideration Shares”) of Sandy Lake Gold Inc.(“SLG’) (formerly Lago Dourado Minerals Ltd.) (TSXV:SDL) which it received as consideration for the sale of its interests in the Sandy Lake district of Northwestern Ontario to SLG. The Distribution has been effected by way of return of stated capital, pursuant to which each registered shareholder of GPM as of September 13, 2016 (the record date for the Distribution) received approximately 0.65 Consideration Shares for each common share of GPM held, provided that any resulting fractional interests were rounded down to the nearest whole number. The Consideration Shares are subject to a statutory hold period expiring November 22, 2016.

 

For further information please contact:

John Patrick Sheridan

Chief Executive Officer

(416) 628-5904

Email: [email protected]

 

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and / or accuracy of this release.

 

 

GPM Metals Inc. Announces Record Date for Distribution of Sandy Lake Shares

September 1, 2016 (Toronto, Ontario):  GPM Metals Inc. (“GPM” or the “Company“) (TSXV:GPM) announces it has set September 13, 2016 (the “Record Date”) as the record date for the distribution (the “Distribution”) to its shareholders of approximately 40,000,000 common shares (the “Consideration Shares“) of Sandy Lake Gold Inc. (formerly Lago Dourado Minerals Ltd.) (“SLG“) which it received as consideration for the sale of its interests in the Sandy Lake district of Northwestern Ontario to SLG. The Distribution will be effected by way of return of stated capital.  The Distribution will take place on September 16, 2016, and in connection therewith, each registered shareholder of GPM as of the Record Date will be entitled to receive approximately 0.65 Consideration Shares for each common share of GPM held, provided that no shareholder will be entitled to receive any fractional interests in Consideration Shares (or cash payment or any other form of consideration in lieu thereof) and any such fractional interests shall be rounded down to the nearest whole number.

 

For further information please contact:

 

John Patrick Sheridan

Chief Executive Officer

(416) 628-5904

Email: [email protected]

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and / or accuracy of this release.

 

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of GPM, including, but not limited to the failure to complete the Distribution as currently proposed or at all, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

GPM Metals announces commencement of Drill Program at Walker Gossan Project, NT. Australia

TORONTO, August 10, 2016 : GPM Metals Inc. (TSXV: GPM) (the “Company” or “GPM”) is pleased to  announce the commencement of a 5,000 metre drilling program at the Walker Gossan Project (WGP), Arnhem Land, Northern Territory, Australia. The program consists of approximately 20 boreholes, utilizing both diamond drill and reverse circulation (RC) drilling.

 

The Project is a joint venture with Rio Tinto Exploration Pty. Ltd. (see January 27, 2015 press release of the Company).

GPM is the operator of the project and has a right to earn in 51% of the project during Stage 1 of Joint Venture Agreement (“Agreement”), subject to certain conditions as outlined in the terms of the Agreement (see January 27, 2015 press release of the Company available on SEDAR at www.sedar.com).

The exploration target is a large, strata bound, sediment hosted silver-zinc-lead deposit. Initial soil and rock sampling conducted in 2015 has outlined a continuous 3 km X 500 m zone of anomalous zinc and lead.

 

About GPM Metals Inc.

GPM Metals is a zinc focused exploration company with offices in Toronto, Brisbane and Lima.

The Company’s current holdings include the district scale Walker Gossan Project, NT, Australia, a joint venture with Rio Tinto Exploration Pty Limited; and the Pasco Project, Department of Pasco, Peru.

Both projects are advanced exploration properties with drill ready targets and have considerable potential to host significant zinc resources.

 

All scientific and technical information in this press release has been prepared under the supervision of Dan Noone, (Vice President Exploration and a Director of GPM), a “qualified person” within the meaning of National Instrument 43-101. Mr. Noone (B.Sc Geology, MBA) is a member of the Australian Institute of Geoscientists.

 

For further information contact:

 

GPM Metals Inc.

Att: John Patrick Sheridan,  CEO

Suite 1205 – 141 Adelaide Street West,

Toronto, Ontario M5H 3L5

Telephone : (416) 628-5904 xt 4002

Telefax :       (416) 628-6835

Email: [email protected]

 

Forward Looking Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “might”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information and/or statements.  Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of GPM which have been used to develop such statements and/or information but which may prove to be incorrect. Although GPM believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as GPM can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: results from planned exploration and drilling activities; GPM’s future plans for operational expenditures; the accuracy of the interpretations of exploration and drilling activity results; availability of financing to fund current and future plans and expenditures; the impact of increasing competition; the general stability of the economic and political environment in which GPM has property interests; the general continuance of current industry conditions; aboriginal matters; the timely receipt of any required regulatory approvals; the ability of GPM to obtain qualified staff, equipment and/or services in a timely and cost efficient manner; the ability of the operator of each project in which GPM has property interests to operate in a safe, efficient and/or effective manner and to fulfill its respective obligations and current plans; future commodity prices; currency, exchange and/or interest rates; and the regulatory framework regarding royalties, taxes and/or environmental matters in the jurisdictions in which GPM has property interests. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: risks associated with the uncertainty of exploration results and estimates, currency fluctuations, the uncertainty of conducting operations under a foreign regime, exploration risk, the uncertainty of obtaining all applicable regulatory approvals, the availability of labour and/or equipment, the fluctuating prices of commodities, the availability of financing and GPM’s dependence on its management personnel, other participants in the property areas and/or certain other risks detailed from time-to-time in GPM’s public disclosure documents, (including, without limitation, those risks identified in this news release and GPM’s current management’s discussion and analysis). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and / or accuracy of this release

© 2016

TORONTO, August 10, 2016 : GPM Metals Inc. (TSXV: GPM) (the “Company” or “GPM”) is pleased to  announce the commencement of a 5,000 metre drilling program at the Walker Gossan Project (WGP), Arnhem Land, Northern Territory, Australia. The program consists of approximately 20 boreholes, utilizing both diamond drill and reverse circulation (RC) drilling.

 

The Project is a joint venture with Rio Tinto Exploration Pty. Ltd. (see January 27, 2015 press release of the Company).

GPM is the operator of the project and has a right to earn in 51% of the project during Stage 1 of Joint Venture Agreement (“Agreement”), subject to certain conditions as outlined in the terms of the Agreement (see January 27, 2015 press release of the Company available on SEDAR at www.sedar.com).

The exploration target is a large, strata bound, sediment hosted silver-zinc-lead deposit. Initial soil and rock sampling conducted in 2015 has outlined a continuous 3 km X 500 m zone of anomalous zinc and lead.

 

About GPM Metals Inc.

GPM Metals is a zinc focused exploration company with offices in Toronto, Brisbane and Lima.

The Company’s current holdings include the district scale Walker Gossan Project, NT, Australia, a joint venture with Rio Tinto Exploration Pty Limited; and the Pasco Project, Department of Pasco, Peru.

Both projects are advanced exploration properties with drill ready targets and have considerable potential to host significant zinc resources.

 

All scientific and technical information in this press release has been prepared under the supervision of Dan Noone, (Vice President Exploration and a Director of GPM), a “qualified person” within the meaning of National Instrument 43-101. Mr. Noone (B.Sc Geology, MBA) is a member of the Australian Institute of Geoscientists.

 

For further information contact:

 

GPM Metals Inc.

Att: John Patrick Sheridan,  CEO

Suite 1205 – 141 Adelaide Street West,

Toronto, Ontario M5H 3L5

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GPM Metals Inc. announces the grant of stock options

TORONTO, July 26 – GPM Metals Inc. (TSX-V: GPM) (the “Company”) announces that it has

granted effective July 26, 2016 an aggregate of 3,825,000 options to directors, employees and

consultants of the Company with such options being exercisable at a price of $0.50 per share

until July 26, 2019.

The options vest as to 25% immediately and 25% after 6, 12 and 18 months respectively from the date of grant.

 

About GPM Metals;

GPM Metals is a zinc focused exploration company.

The Company’s current holdings include the district scale Walker Gossan Project, NT., Australia, a

joint venture with Rio Tinto Exploration PTY Limited;  and the Pasco Project , Department of Pasco , Peru.

Both projects are advanced exploration properties with drill ready targets and have considerable

potential host significant zinc resources.

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for this release.

 

For further information:

J. Patrick Sheridan

1205 -141 Adelaide Street West

Toronto, ON. Canada

M5H 3L5

Phone 416.628.5904 xt 4002

[email protected]

 

GPM Metals Inc. and Sandy Lake Gold Inc. (formerly Lago Dourado Minerals Ltd.)Announce Closing of Property Sale

TORONTO, ONTARIO–(Marketwired – Jul 21, 2016) – Sandy Lake Gold Inc. (formerly Lago Dourado Minerals Ltd.) (TSX VENTURE:SDL) (“Sandy Lake“) and GPM Metals Inc. (TSX VENTURE:GPM) (“GPM“) are pleased to announce that they have completed the previously announced acquisition (the “Acquisition“) by Sandy Lake from GPM of GPM’s property interests in the Sandy Lake district, Northwestern Ontario. As consideration for the Acquisition, Sandy Lake issued an aggregate of 40,000,000 common shares (the “Consideration Shares“) to GPM. It is a condition of the Acquisition that GPM shall effect a distribution of the Consideration Shares to its shareholders as soon as possible following the closing of the Acquisition, further details of which will be announced by GPM in due course. The Consideration Shares are subject to a statutory hold period expiring November 22, 2016.

Immediately prior to completion of the Acquisition, the subscription receipts issued by Sandy Lake (“Subscription Receipts“) on June 14, 2016 were automatically converted into an aggregate of 12,000,000 common shares of Sandy Lake, without any further action on the part of the holders thereof, and the proceeds from the sale of such Subscription Receipts were released to Sandy Lake from escrow.

Also in completion with the Acquisition, Sandy Lake filed articles of amendment to change its name from “Lago Dourado Minerals Ltd.” to “Sandy Lake Gold Inc.” (the “Name Change“), and the board of directors of Sandy Lake was reconstituted to consist of Michele McCarthy, Jon Douglas, Daniel Noone, Alexander Po and Bruce Rosenberg. The common shares of Sandy Lake giving effect to the Name Change are expected to commence trading on the TSX Venture Exchange under the new symbol “SDL” at the open on Friday, July 22, 2016.

Forward-Looking Statements

This news release contains certain forward-looking information and statements within the meaning of applicable securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “may”, “might”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information and/or statements. Forward-looking statements and/or information are based on a number of material factors, expectations and/or assumptions of Sandy Lake and GPM which have been used to develop such statements and/or information but which may prove to be incorrect. Although Sandy Lake and GPM believe that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements as neither Sandy Lake nor GPM can give any assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified herein, assumptions have been made regarding, among other things: the timing of the distribution of the Consideration Shares by GPM, and the timing of the trading of the common shares of Sandy Lake giving effect to the Name Change. The forward-looking information and statements included in this news release are not guarantees of future performance and should not be unduly relied upon. Such information and/or statements, including the assumptions made in respect thereof, involve known and unknown risks, uncertainties and other factors that may cause actual results and/or events to differ materially from those anticipated in such forward-looking information and/or statements including, without limitation: risks that the distribution of the Consideration Shares by GPM may not be completed as currently proposed or at all, and the uncertainty of regulatory timing, as well as certain other risks detailed from time-to-time in Sandy Lake’s and/or GPM’s public disclosure documents. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and neither Sandy Lake nor GPM undertakes any obligations to publicly update and/or revise any of the included forward-looking statements, whether as a result of additional information, future events and/or otherwise, except as may be required by applicable securities laws.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and / or accuracy of this release.

 

GPM Metals, Lago Dourado property agreement

2016-07-19 18:03 ET – Property Agreement

Also Property Agreement (C-LDM) Lago Dourado Minerals Ltd (2)
The TSX Venture Exchange has accepted for filing documentation relating to an agreement dated May 16, 2016, between Lago Dourado Minerals Ltd. and GPM Metals Inc. Pursuant to the agreement, Lago shall acquire all of the property interests of the company in the Sandy Lake district in Northwestern Ontario.

As consideration, Lago shall issue 40 million shares to the company.

For more information, refer to the company’s news release dated March 29, 2016.

GPM Metals Inc. Announces Closing of Private Placement

 

May 24, 2016 (Toronto, Ontario):  GPM Metals Inc. (“GPM” or the “Company“) (TSXV:GPM) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Offering”), pursuant to which it has issued an aggregate of 28,333,333 special warrants (“Special Warrants”) at a price of $0.15 per Special Warrant to raise aggregate gross proceeds of $4,250,000.  Each Special Warrant will automatically convert into one common share of the Company without any additional payment or action by the holder on September 21, 2016.

 

The Company also issued an aggregate of 853,500 broker warrants to eligible registrants assisting in connection with the Offering, each entitling the holder to acquire one common share of the Company at an exercise price of $0.15 for one year.  All securities issued and issuable pursuant to the Offering are subject to a statutory hold period expiring September 21, 2016.  The Offering remains subject to the final approval of the TSX Venture Exchange.

 

Proceeds from the financing will be used to conduct a 5,000 metre drilling program at the Company’s Walker Gossan zinc project, as well as advance the Pasco zinc project in Peru.

 

ABOUT GPM METALS INC.

GPM Metals Inc. focuses on acquiring and exploring district scale exploration properties. The Company is currently conducting exploration programs on 2 district scale projects in stable jurisdictions.

 

,

For further information please contact:

 

John Patrick Sheridan

Chief Executive Officer

(416) 628-5904

Email: [email protected]

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy and / or accuracy of this release.

 

Forward Looking Statements – Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of GPM, including, but not limited to the failure to receive all final regulatory approvals, the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, dependence upon regulatory approvals, changes in the proposed use of proceeds of the Offering and exploration risk. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.