2016 News

2016 News

Genesis Metals Closes Non-Brokered Private Placement

Not for dissemination in the United States or through U.S. newswires

Vancouver, British Columbia, March 21st 2016 Genesis Metals Corp. (TSX-V: EMT) (the "Company") is pleased to announce that further to its news release of March 1st 2016, it has closed its non-brokered private placement.  The Company issued 10,050,000 units at $0.10 per unit.  Each unit in the private placement is comprised of one common share and one-half of one share purchase warrant with each whole warrant exercisable into one additional common share at a price of $0.20 for a period of two years. The Company also issued 6,500,000 flow-through shares issued at a price of $0.10 per share.

All securities issued in connection with the financing will be subject to a four-month hold period expiring on July 21st, 2016.

The company intends to use the net proceeds from the private placement to advance its 100% owned Chevrier Gold deposit, expenses associated with its recent plan of arrangement and for general working capital purposes.

The company paid commissions to finders under the placement consisting of total cash commissions of $65,040 and the issuance of a total of 650,400 finder warrants. Each finder warrant entitles the holder to purchase one common share of the company at a price of .20 cents per common share for a period of two years.

ON BEHALF OF THE BOARD OF DIRECTORS

“Jeff Sundar”

Jeff Sundar
Executive Vice President and Director

Suite 1500, 409 Granville Street, Vancouver, BC V6C 1T2
Telephone: 604-484-7855 Fax: 604-484-7155
Email: js@genesismetalscorp.com
Website: www.genesismetalscorp.com

Neither the 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.

Certain disclosure in this release, including statements regarding the intended use of proceeds from the private placement, constitute forward-looking information or statements (collectively, "forward-looking statements") for the purpose of applicable securities laws. In making the forward-looking statements, the Company has applied certain factors and assumptions that are based on the Company's current beliefs as well as assumptions made by and information currently available to the Company, including that the Company is able to obtain any government or other regulatory approvals required to complete the Company's planned exploration and development activities, that the Company is able to procure personnel, equipment and supplies required for its exploration and development activities in sufficient quantities and on a timely basis and that actual results of exploration activities are consistent with management's expectations. Although the Company considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, that the Company will be unable to obtain required regulatory approvals on a timely basis or at all, that actual results of the Company's exploration activities will be different than those expected by management and that the Company will be unable to obtain or will experience delays in obtaining any required government approvals or be unable to procure required equipment and supplies in sufficient quantities and on a timely basis. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

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