Green Bridge Metals closes $6 million private placement

Green Bridge Metals Corporation (CSE: GRBM) (OTCQB: GBMCF) announced the completion of a non-brokered private placement that raised $6 million in gross proceeds.

The company issued 66,666,666 units at $0.09 per unit. Each unit consists of one common share and one-half of a share purchase warrant. Each whole warrant allows the holder to purchase one share at $0.15 for three years.

Pacific Opportunity Capital Ltd., controlled by company director Mark Brown, purchased 400,000 units for $36,000. The transaction qualifies as a related party transaction under securities regulations. The company relied on exemptions from valuation and minority shareholder approval requirements because the related party participation did not exceed 25% of the company's market capitalization.

Green Bridge paid $193,627.55 in finders' fees and issued 2,151,417 finders' warrants to parties who assisted in the placement. The company also issued 666,666 shares, representing 1% of total units sold, as an administrative fee to a third party.

All securities issued are subject to a four-month-and-one-day hold period under applicable securities laws. Green Bridge stated it plans to use the net proceeds for existing operations and general working capital purposes.

Green Bridge Metals is a Canadian exploration company focused on battery metal mineral assets and development of the South Contact Zone along the Duluth Intrusion in Minnesota. The property targets bulk-tonnage nickel mineralization, high-grade nickel-copper-platinum group element magmatic sulfide mineralization, and titanium.

You May Also Be Interested In

• OpenAI's Altman: rise in cost of compute and memory definitely a headwind - CNBC Interview
• Altman Says 'don't Know' When Asked About Going Public In 2026
• Active options: MSFT PLTR SPCX AVGO NFLX MSTR NOK CRWV MRVL SMCI NBIS