GEONOVUS ANNOUNCES FLOW-THROUGH AND NON-FLOW-THROUGH FINANCING December 1 3, 2 012, VANCOUVER, B.C. – GEONOVUS MINERALS CORP. (TSX -V:GNM) (“GeoNovus” or the “Company”) announces that, further to the Company’s news release dated November
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GEONOVUS ANNOUNCES FLOW-THROUGH AND NON-FLOW-THROUGH FINANCING
December 13, 2012, VANCOUVER, B.C. – GEONOVUS MINERALS CORP. (TSX-V:GNM) (“GeoNovus” or the “Company”) announces that, further to the Company’s news release dated November 28, 2012 (the “News Release”), the Company is amending the terms of the previously announced private placement to include a flow-through feature (the “FT Private Placement”). The FT Private Placement of up to 10 million flow-through units (“FT Units”) will now be comprised of one flow-through common share and one share purchase warrant of the Company on the same terms as announced in the News Release.
Concurrently with the FT Private Placement, the Company also announces that it has arranged a nonbrokered private placement of up to 10 million non-flow-through units ("NFT Units") at a price of $0.065 per NFT Unit for aggregate gross proceeds of $650,000 (the "NFT Private Placement" together with the FT Private Placement, the “Offering”). Each NFT Unit will be comprised of one non-flow-through common share ("Share") and one Share purchase warrant of the Company ("Warrant"). Each Warrant will entitle the holder to purchase one Share (a "Warrant Share") for a period of 18 months from the closing date at an exercise price of $0.10 per Warrant Share.
The Company may, in its sole discretion, pay a finders' fee to agents of the Company consisting of: (i) a cash fee in an amount of 10% of the proceeds raised by such finder as part of this Offering, and (ii) a number of finder's warrants entitling the holder thereof to purchase that number of Shares of the Company ("Finder's Warrant") that is equal up to 10% of the number of FT Units and NFT Units placed through the finder as part of this Offering. Each Finder's Warrant will entitle the holder to purchase one Share for a period of 12 months from the closing date at an exercisable price of $0.10 per Finder's Warrant.
The proceeds raised from the FT Private Placement will be used for exploration expenditures on the Company’s Canadian mineral projects. The proceeds raised from the offering of NFT Units will be used for general corporate purposes and advancing its various properties.
The Offering is subject to the approval of the TSX Venture Exchange.
GeoNovus Minerals Corp. is a junior exploration company actively seeking mineral development opportunities for the benefit of all of its stakeholders, with three active porphyry copper exploration projects in Arizona.
ON BEHALF OF THE BOARD
Signed “Michael England”
Michael England, President
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 1-604-683-3995; Toll Free: 1-888-945-4770; Facsimile: 1-604-683-3988, www.geonovusminerals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.