VANCOUVER, BC / ACCESSWIRE / June 19, 2024 / Green Bridge Metals Corporation (CNSX: GRBM )(OTCQB: GBMCF )(FWB:J48 , WKN: A3EW4S ) ("Green Bridge" or the "Company") is pleased to announce the closing of its non-brokered private placement (the "Private Placement") through the issuance of 28,583,073 units (the "Units") at a price of $0.13 per Unit for gross proceeds of $3,715,799.55. Each Unit consists of one (1) share (each, a "Share") and one-half-of-one (1/2) transferable Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one (1) additional Share of the Company for a period of five (5) years from issuance, at a price of $0.25 per Warrant Share.
The net proceeds from the Private Placement will be used to support its existing operations and for general working capital purposes.
In connection with closing, arms-length finders acting in connection with the Private Placement received fees in the aggregate amount of $194,060.01 cash and 1,492,769 share purchase warrants (each, a " Broker Warrant"). In addition, the Company issued 571,661 Shares (the "Administrative Shares") of the Company to Amalfi Corporate Services Ltd. ("Amalfi"), in consideration for administrative services rendered in connection with the Private Placement. Amalfi is a private company controlled by Geoff Balderson. Mr. Balderson serves as CFO of the Company.
MI 61-101 Disclosure
Amalfi, a private company controlled by Geoff Balderson, CFO of the Company, will receive an aggregate total of 571,661 Administrative Shares in consideration for administrative services rendered in connection with the Private Placement. The issuance of the Administrative Shares to Amalfi is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the issuance of the Administrative Shares issued to Amalfi do not exceed twenty-five percent (25%) of the market capitalization of the Company, as determined in accordance with MI 61-101.
Pursuant to applicable securities laws, all securities issued under the Private Placement are subject to a statutory hold period until October 20, 2024.
Furthermore, the Company announces it has engaged the services of DS Market Solutions Inc. ("DS Market") to provide equity trading advisory and liquidity provider services in accordance with the policies of the Canadian Securities Exchange ("CSE"). DS Market will trade common shares of the Company on the CSE and all other trading venues with the objective of maintaining a reasonable market and improving the liquidity of the Company's common shares.
Under the terms of the engagement, DS Market will receive compensation of CAD$5,000 per month, payable monthly in advance. The engagement effective from July 2, 2024, on a month-to-month term and may be terminated by either party with thirty (30) days' notice. There are no performance factors contained in the engagement and DS Market will not receive shares or options as compensation. DS Market and the Company are unrelated and unaffiliated entities and at the time of the engagement, neither DS Market nor its principals have an interest, directly or indirectly, in any securities of the Company.
ABOUT DS Market Solutions
DS Market Solutions is an equity trading advisor to issuers looking to enhance liquidity in their publicly traded securities. DS Market Solution's contact is davidsears@dsmarketsolutions.com and website is https://dsmarketingsolution.com/ .
Additionally, the Company announces that it previously entered into an agreement with MIC Market Information & Content Publishing ("MIC"), an independent third-party, for a range of online marketing services encompassing campaign creation, production of marketing materials, as well as research and analytics (the "Services"). As part of the ongoing engagement, the Company has agreed to compensate MIC with a new budget totaling EUR$250,000 (the "New Budget"). The New Budget is intended to support the ongoing online marketing campaign initiatives with the Company.
The compensation provided to MIC does not involve any securities of the company. Besides this specific arrangement, there are no other affiliations between the Company and MIC, including with Ms. Christina Hammer, the CEO of MIC. MIC's business address is located at Gerhart-Hauptmann-Str. 49B, 51379 Leverkusen, Germany, email at contact@micpublishing.de, telephone number at +49 2171-7766628, and website is www.micpublishing.de.
Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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
SOURCE: Green Bridge Metals Corporation
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