GMV Minerals Inc. closed a non-brokered private placement of up to 4,500,000 units at a price of CAD 0.10 per unit for gross proceeds of CAD 450,000 on June 23, 2022. The transaction included participation from insiders of the company for 1,250,000 units for gross proceeds of CAD 125,000. Each unit will consist of one common share in the capital of the company and one share purchase warrant. Each full warrant will be exercisable at CAD 0.16 to purchase an additional common share for a period of 24 months following the closing date. All securities issued having a four-month hold period which expires on October 24, 2022.

The TSX Venture Exchange has accepted for filing documentation with respect to the transaction. The transaction included participation from 11 placees and insiders such as returning investor Alistair MacLennan of DCT Holdings Ltd. for 250,000 shares, CEO Ian Klassen for 250,000 shares and Michele Pillon for 250,000 shares. The company paid finder's fee to Redplug Inc. for CAD 2,400 in cash and 24,000 warrants. Each non-transferable finder's warrant entitles the holder to purchase one common share at CAD 0.16 per share at any time for a two-year period.