MONTRÉAL, QUÉBEC, CANADA — (September 17, 2021) –

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Genius Metals Inc. (CSE: GENI) (“Genius Metals” or the “Corporation”) is pleased to announce that it has obtained conditional approval to list its Common Shares on the TSX Venture Exchange (“TSXV”). Genius has also completed a second tranche of a non-brokered private placement offering (the “Private Placement”) for gross proceeds of $500K, bringing the total proceeds of this offering to $2.9M. These funds will be used to advance the exploration programme on the Sakami property.

Listing on TSX Venture Exchange

The Corporation is confident that by listing on the TSXV it can attract further institutional investing, notably in Quebec since many institutions require a TSX listing to participate in financing activities.

Final approval of the listing on the TSXV is subject to the Corporation meeting certain customary conditions required by the TSXV. The Corporation will make a further announcement once the TSXV has issued a bulletin confirming the date on which trading on the TSXV will commence. The Corporation will also apply to have its Common Shares voluntarily delisted from the Canadian Securities Exchange (“CSE”) immediately before trading begins on the TSXV. Once listed on the TSXV, the Corporation will continue to trade under its existing symbol “GENI”. Shareholders are not required to take any action related to the listing.

Closing of a Second Tranche of Financing

Under the Private Placement, the Corporation issued and sold:

  • 2,500,000 common share units (the “Common Share Units”) at a price of $0.20 per Common Share Unit, with each such unit being comprised of one common share of the Corporation (“Common Share”) and one common share purchase warrant entitling the holder thereof to purchase one Common Share at an exercise price of $0.35 for a period of eighteen months;

The following funds participated in the Placement of Common Shares Units: SIDEX, société en commandite (“SIDEX”), Société de Développement de la Baie James (“SDBJ”), as well as Desjardins Capital (“DC”).

All securities issued pursuant to the Private Placement are subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of their issuance.

Grant of Stock Options

Genius Metals also announces that it has granted incentive stock options to directors, officers, employees and consultants of Genius Metals to acquire an aggregate of 1,430,000 common shares at $0.30 per share, for a period of 3 to 5 years and 450,000 common shares at $0.35 for a period of 3 years. These incentive stock options have been granted in accordance with the Corporation Stock Option Plan.

About SIDEX

SIDEX is an initiative of the Québec government and the Fonds de solidarité FTQ whose mission is to invest in companies engaged in mineral exploration in Québec in order to diversify the province’s mineral base, promote innovation and new entrepreneurs.

About SDBJ

SDBJ was created under the James Bay Region Development Act adopted by the Québec National Assembly in 1971. Its mission is to promote, from a sustainable development perspective, the economic development, improvement and exploitation of natural resources other than hydroelectric resources falling within Hydro-Québec’s mandate in the Baie-James territory. SDBJ can also foster, support and participate in the implementation of projects having these objectives.

About Desjardins Capital 

Over 45 years strong, Desjardins Capital has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of C$2.8 billion as of June 30, 2021, Desjardins Capital helps contribute to the longevity of more than 610 companies, cooperatives and funds in various sectors from across Quebec. In addition to helping to maintain and create many thousands of jobs, this subsidiary of Desjardins Group offers business owners access to a large business network and supports their business growth. For more information, visit our website.

About Genius Metals

Genius Metals is a Canadian mineral exploration company focused on the acquisition, exploration and, if warranted, development of natural resource properties of merit in Canada.

Contact Information

Genius Metals Inc.

Tel.: 579-476-7000

Pierre-Olivier Goulet, VP Corporate Development
Email: pogoulet@geniusmetals.com
1-450-821-5270

Guy Goulet, President and CEO
Email: ggoulet@geniusmetals.com

1-514-294-7000

Forward-Looking Statements and Disclaimer

Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “expected” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements, including the expectations of the Corporation’s management regarding the use of proceeds of the Private Placement, the listing of its Common Shares on the TSXV and delisting from the CSE, are based on the Corporation’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

The CSE has in no way passed upon the merits of the transactions and has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.