Genius Closes Non-Brokered Private Placement
December 29, 2014 at 17:00 PM EST
MONTREAL, QUEBEC--(Marketwired - Dec. 29, 2014) - Genius Properties Ltd. ("Genius" or the "Corporation") (CSE:GNI) is pleased to announce that it has closed its previously announced non-brokered private placement (the "Private Placement") of 1,229,625 flow-through shares of Genius ("FT Shares") at a price of $0.20 per FT Share and 148,900 common shares of Genius (the "Shares") at a price of $0.15 per Share for total gross proceeds of $268,260.
Genius has paid a cash Finder's Fee of 10% of the gross proceeds raised from subscriptions and has issued Finder's Warrants equal to 10% of the number of FT Shares and Shares subscribed by persons introduced by the Finder. Each Finder's Warrant will be exercisable to purchase one additional Share at $0.20 per Share for a period of one year from closing.
The proceeds from the Private Placement of FT Shares are expected to be used for ongoing exploration activity on certain properties owned by Genius and proceeds from the Private Placement of Shares are expected to be used for general working capital purposes.
The Shares and FT Shares issued in connection with the closing of the Private Placement are subject to a four-month hold period from the date of issuance, pursuant to applicable securities regulation. As a result of the Private Placement, Genius has 31,231,610 Shares issued and outstanding.
Genius is an international firm dedicated to building, buying, investing, and representing the next generation of brands. We focus on selecting and marketing brands that are innovative, eco-friendly, and/or are market disruptors. We only work with brands that have scalable revenue potential.
A PROVEN TEAM AND FORMULA
-- Ensures systems are in place to conduct business
-- Provides the execution strategy for launching brands
-- Develops powerful presentations for launch of products
-- Creates marketing programs that are affordable but look like tier 1
-- Build national and international sales teams to successfully launch
products with great potential
Genius Properties Ltd.
President and CEO
Investor Relations: Contact Financial Corp.
(438) 863-7071 or (604) 689-7422