TSX-V: GIS
OTCQB: GGISF
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Genesis Announces $2.5 Million Dollar Private Placement


July 30, 2020

THIS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Vancouver, British Columbia – Genesis Metals Corp (TSX-V: GIS) (“Genesis” or the “Company”) is pleased to announce its plans to raise up to an aggregate of $2.5 million through the sale of up to 4,000,000 flow-through common shares (the “FT Shares”) at a price of $0.45 per FT share and up to 2,333,333 units (the “Units”) at a price of $0.28 per Unit.

Each Unit will consist of one common share in the capital of the Company and one-half of one warrant; each whole such warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.42 per share for a period of 24 months from the date of issuance.

The Company will have the option to increase the size of each offering by up to 25% which, if fully exercised, would bring the aggregate gross amount raised under the offerings to $3,125,000.

The gross proceeds from the sale of the FT Shares are intended to be used to incur exploration expenses on the Company’s Chevrier Gold project in Quebec and the net proceeds from the sale of the Units are intended to be used for general working capital purposes.

The Company may pay a finder’s fee in connection with the Private Placement. The Private Placement is subject to TSX Venture Exchange approval and all securities issued and issuable pursuant thereto will be subject to a four-month hold period.

About Genesis

Genesis Metals Corp. is a member of Discovery Group, an alliance of public companies focused on the advancement of mineral exploration and mining projects with a proven track record of generating shareholder value through responsible, sustainable, and innovative development.  Discovery Group companies have generated over $500 million in direct and indirect expenditures resulting in over a billion dollars in M&A activity, with notable recent successes being the sale of Northern Empire Resources Corp. to Coeur Mining Inc. and the sale of Kaminak Gold Corp. to Goldcorp Inc.  Current Discovery Group member companies include:  Great Bear Resources Ltd., Bluestone Resources Inc., ValOre Metals Corp., Ethos Gold Corp., Fireweed Zinc Ltd., Kodiak Copper Corp., and K2 Gold Corporation.

Genesis Metals Corp. is a gold exploration company focused on advancing its Chevrier Gold Project in the prolific Abitibi region of Quebec, Canada.

ON BEHALF OF THE BOARD OF DIRECTORS

“David A. Terry”
President, CEO, and Director

Suite 1020, 800 West Pender Street, Vancouver, BC V6C 2V6
Telephone: 604-646-8356 
Email: [email protected]
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 anticipated timing for receipt of survey and till results; the Company's exploration plans; 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; that actual results of exploration activities are consistent with management's expectations; that the current price and demand for gold will be sustained or will improve; that general business and economic conditions will not change in a materially adverse manner; 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 risks include, among others, the risks related to the inability to obtain required regulatory approvals on a timely basis or at all, that the risk that actual results of the Company's exploration activities may be different than those expected by management; delays in receiving survey and till results or obtaining any required government or other regulatory approvals; inability to procure required equipment and supplies in sufficient quantities and on a timely basis; the nature of mineral exploration and mining and the uncertain commercial viability of certain mineral deposits; the Company's lack of operating revenues and risks related to dependence on key personnel. 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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