GMV Minerals increases private placement to C$4.55 million

GMV Minerals Inc. (TSXV: GMV) announced it has increased the size of its non-brokered private placement from C$4 million to C$4.55 million due to investor demand, according to a company statement.

The offering consists of up to 22.75 million units priced at C$0.20 each. Each unit includes one common share and half of a common share purchase warrant. The warrants allow holders to purchase additional shares at C$0.35 for 30 months following the issue date.

The company is conducting the placement under Part 5A of National Instrument 45-106, targeting purchasers in Canada except Quebec and international jurisdictions where permitted under local securities laws. Units issued will not be subject to statutory hold periods in Canada, subject to exemption limitations.

GMV has engaged finders who will receive 7% cash compensation on gross proceeds they raise plus finder warrants equal to 7% of units they place. The finder warrants are exercisable at C$0.20 per share for 30 months and subject to a four-month hold period.

The company plans to use net proceeds for exploration and development of its Mexican Hat Gold project in Arizona and general working capital. The first tranche closing is expected December 19, 2025, with final closing no later than January 19, 2026.

GMV owns a 100% interest in the Mexican Hat Property in Cochise County, Arizona. The company's mineral resource estimate shows 36.73 million tonnes grading 0.58 g/t gold containing 688,000 ounces of gold with an effective date of July 17, 2024.

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