Geonovus Announces Priv Ate Placement October 30 Th 2014, V
Suite 1220 – 789 West Pender Street Vancouver, BC, Canada V6C 1H2 Telephone (604) 683-3995 Facsimile (604) 683-3988 Toll Free: 1 888 945-4770 www.geonovusminerals.com [email protected]
GEONOVUS ANNOUNCES PRIVATE PLACEMENT
October 30th 2014, VANCOUVER, B.C. – GEONOVUS CORP. (GNM – CSE) (GMINF – USA) (“GeoNovus” or the “Company”) is it has arranged a non-brokered private placement of 2 million units at a price of $0.06 per unit for gross proceeds of up to $120,000.
Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase an additional share at a price of $0.10 per share for 24 months. The warrants issued with the units sold will be subject to an acceleration provision. After four months have elapsed from closing, if the Company’s shares trade above $0.15 for 20 consecutive trading days, the Company has the option to provide notice to the warrant holders that their warrants will expire if they are not exercised within 30 days.
The proceeds from the private placement will be used for general working capital.
Finder's fees may be payable on the private placement.
For further information please contact: 604-683-3995 or [email protected]
ON BEHALF OF THE BOARD Michael England President & CEO
CONTACT INFORMATION
Suite 1220 – 789 West Pender Street Vancouver, British Columbia, V6C 1H2 Telephone (604) 683-3995 Toll Free: 1 888 945-4770 Facsimile: 1-604-683-3988 www.geonovusminerals.com [email protected]
Forward-Looking Statement
Some of the statements in this news release contain forward-looking information, including with respect to the Company's anticipated operations in Uruguay, the Uruguayan cannabis, industrial hemp and medical marijuana industries, the Canadian medical marijuana industry and the US marijuana industry that involves inherent risk and uncertainty affecting the business of the Company, including risks regarding operations in a foreign country. Actual results may differ materially from those currently anticipated in such statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur, or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations and assumptions which may prove to be incorrect. The forward-looking information is provided as at the date of this news release.