Green Bridge Metals Announces Closing of First Tranche of Non-Brokered Private Placement
Rhea-AI Summary
Green Bridge Metals has successfully closed the first tranche of its non-brokered private placement, raising $1,199,750.05 through the issuance of 7,998,334 common shares at $0.15 per share. The company may close additional tranches by March 7, 2025, targeting total gross proceeds of up to $1.5 million.
The proceeds will be used to support existing operations and general working capital. The company issued 79,983 shares to Amalfi Corporate Services as an administrative fee. All securities issued are subject to a four-month hold period ending June 5, 2025.
Additionally, Green Bridge has extended its engagement with MIC Market Information & Content Publishing for online marketing services until May 5, 2025, with a payment of EUR125,000 for the extension.
Positive
- Secured $1.2 million in funding through private placement
- Potential for additional funding up to $1.5 million total by March 7, 2025
Negative
- Share dilution through issuance of 7,998,334 new common shares
- Additional EUR125,000 marketing expenses
News Market Reaction – GBMCF
On the day this news was published, GBMCF declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
VANCOUVER, BC / ACCESS Newswire / February 4, 2025 / Green Bridge Metals Corporation (CSE:GRBM)(OTCQB:GBMCF)(FWB:J48, WKN: A3EW4S) ("Green Bridge" or the "Company") is pleased to announce that it has closed the first tranche (the "First Tranche") of its previously-announced (see news release dated January 22, 2025) non-brokered private placement (the "Private Placement") of 7,998,334 common shares (each, a, "Share") at a price of
The Company intends to utilize the proceeds of the Private Placement to support its existing operations and for general working capital purposes.
In connection with closing, the Company issued 79,983 Shares (the "Admin Fee Shares") of the Company to Amalfi Corporate Services Ltd., as an administrative fee for their assistance with the Private Placement.
Pursuant to applicable securities laws, all securities issued under the Private Placement will be subject to a statutory hold period of four months and one day, expiring on June 5, 2025.
Additionally, the Company announces, further to its news release dated November 1, 2024, September 19, 2024, June 19, 2024 and March 14, 2024, that it has extended its engagement of MIC Market Information & Content Publishing (business address: Gerhart-Hauptmann-Str. 49B, 51379 Leverkusen, Germany; email: contact@micpublishing.de; telephone: +49 2171-7766628; and website: www.micpublishing.de ("MIC") for the provision of a range of online marketing services encompassing campaign creation, production of marketing materials, as well as research and analytics (the "Services"). The Services are expected to commence immediately and continue until May 5, 2025, or until budget exhaustion; provided, however, that the Services may be extended or shortened at the discretion of the Company depending on, among other things, the efficacy of the Services. The Company has agreed to pay to MIC EUR125,000 in consideration for the extension of Services. The Company has not provided any securities to MIC or its principals as compensation for the Services. The Services will occur via digital channels Google Ads and native advertising.
About Green Bridge Metals
Green Bridge Metals Corporation (formerly Mich Resources Ltd.) is a Canadian based exploration company focused on acquiring ‘battery metal' rich mineral assets and the development of the South Contact Zone (the "Property") along the basal contact of the Duluth Intrusion, north of Duluth, Minnesota. The South Contact Zone contains bulk-tonnage copper-nickel and titanium-vanadium in ilmenite hosted in ultramafic to oxide ultramafic intrusions. The Property has exploration targets for bulk-tonnage Ni mineralization, high grade Ni-Cu-PGE magmatic sulfide mineralization and titanium.
ON BEHALF OF GREEN BRIDGE METALS,
"David Suda"
President and Chief Executive Officer
For more information, please contact:
David Suda
President and Chief Executive Officer
Tel: 604.928-3101
investors@greenbridgemetals.com
Neither the Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Information
Certain statements and information herein contain forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such forward-looking statements include but are not limited to statements or information with respect to: the proposed non-brokered private placement.
Although management of the Company believe that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include but are not limited to: the Private Placement may not close on the terms set forth herein, or at all; business and economic conditions in the mining industry generally; and other risk factors as detailed from time to time.
The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Reader Advisory
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE: Green Bridge Metals Corporation
View the original press release on ACCESS Newswire
FAQ
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