Genius Metals Closes First Tranche of Private Placement for a total amount of $700,000

Core Points - Genius Metals Inc. has successfully closed a non-brokered private placement, raising total gross proceeds of $700,000 through the issuance of 8,750,000 units at a price of$0.08 per unit [3] - Each unit consists of one common share and one half of a common share purchase warrant, with each whole warrant allowing the purchase of one common share at an exercise price of $0.12 for a period of 24 months [4] - The net proceeds from the offering will be allocated towards the development of the Corporation's portfolio in Québec and Morocco, as well as for general working capital purposes [6] Financial Details - The offering is subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws [5] - The Corporation expects to pay finder’s fees totaling$41,300 and issue 516,250 warrants to third parties who assisted in the offering [6] Related Party Transactions - An officer and director of the Corporation participated in the offering by purchasing 125,000 units, which is classified as a related party transaction [7] - The Corporation relied on exemptions from formal valuation and minority shareholder approval requirements as the value of securities issued to insiders did not exceed 25% of the Corporation’s market capitalization [7] Company Overview - Genius Metals is a Canadian mineral exploration company focused on the acquisition, exploration, and potential development of natural resource properties in Canada and Morocco [9]