Genesis Goldfields announces $2M private placement financing

Genesis Goldfields Corp. (CSE: GGF) (OTC: NEWDF) (FSE: M4K0) announced a non-brokered private placement of up to 13,333,333 units at $0.15 per unit, for gross proceeds of up to $2,000,000.

Each unit consists of one common share and one-half of one transferable common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at $0.225 per share for a period of one year.

All securities issued under the offering are subject to statutory hold periods under Canadian securities laws. The offering requires regulatory approval, including approval from the Canadian Securities Exchange.

The securities will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States without applicable registration or an exemption from U.S. registration requirements.

Genesis Goldfields is a Canadian gold exploration company with operations focused on Angola. Its primary asset is the Ganda Gold Project, a 786 km² licence in central-western Angola. The company also holds exploration properties in Canada.

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