Green Bridge Metals Corporation Announces Closing of Non-Brokered Private Placement, Engages DS Market Solutions Inc. and Provides Update to MIC Market Information & Content Publishing Engagement

Rhea-AI Summary

Green Bridge Metals (CNSX: GRBM; OTCQB: GBMCF; FWB: J48) announced the successful closing of a non-brokered private placement, issuing 28,583,073 units at $0.13 per unit for gross proceeds of $3,715,799.55. Each unit includes one share and a half-share purchase warrant, with each warrant allowing the purchase of an additional share at $0.25 within five years.

Proceeds will support existing operations and general working capital. Arms-length finders received $194,060.01 in cash and 1,492,769 broker warrants. Additionally, 571,661 shares were issued to Amalfi Corporate Services , controlled by Green Bridge's CFO Geoff Balderson, for administrative services. All securities issued are subject to a hold period until October 20, 2024.

The company has also engaged DS Market Solutions Inc. for equity trading advisory and liquidity provider services, with a compensation of CAD$5,000 per month, starting from July 2, 2024.

Positive

• Closed non-brokered private placement raising $3,715,799.55.
• Engaged DS Market Solutions for liquidity provider services to improve share liquidity.
• Issued 28,583,073 units at $0.13, each including one share and a half-share purchase warrant valid for five years at $0.25.

Negative

• Payment of $194,060.01 in cash and 1,492,769 broker warrants to arms-length finders.
• Related party transaction with Amalfi Corporate Services raises potential conflict of interest issues.

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

View the original press release on accesswire.com

FAQ

What is the recent private placement by Green Bridge Metals ?

Green Bridge Metals recently closed a non-brokered private placement, issuing 28,583,073 units at $0.13 per unit, raising $3,715,799.55.

What does the unit from Green Bridge Metals 's private placement include?

Each unit consists of one share and a half-share purchase warrant, with each warrant allowing the purchase of an additional share at $0.25 within five years.

How will Green Bridge Metals use the proceeds from the private placement?

The proceeds will be used to support existing operations and for general working capital purposes.

Who received broker warrants and cash fees in connection with Green Bridge Metals 's private placement?

Arms-length finders received $194,060.01 in cash and 1,492,769 broker warrants.

What is the purpose of Green Bridge Metals 's engagement with DS Market Solutions?

Green Bridge Metals engaged DS Market Solutions for equity trading advisory and liquidity provider services to improve the liquidity of its common shares.

What is the compensation structure for DS Market Solutions?

DS Market Solutions will receive CAD$5,000 per month, starting from July 2, 2024, with the engagement on a month-to-month basis.

What is the hold period for the securities issued in Green Bridge Metals 's private placement?

All securities issued are subject to a statutory hold period until October 20, 2024.

What related party transaction is involved in Green Bridge Metals 's private placement?

Green Bridge Metals issued 571,661 shares to Amalfi Corporate Services , controlled by CFO Geoff Balderson, as a related party transaction.