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Green Bridge Metals Corporation (CSE:GRBM)(OTCQB:GBMCF)(FWB:J48, WKN: A3EW4S) ("Green Bridge" or the "Company") is pleased to announce that it has closed the first tranche (the "First Tranche") of its previously-announced (see news release dated January 22, 2025) non-brokered private placement (the "Private Placement") of 7,998,334 common shares (each, a, "Share") at a price of $0.15 per Share for gross proceeds of $1,199,750.05. The Company may close further tranches on or before March 7, 2025, to raise gross proceeds of up to $1,500,000.
The Company intends to utilize the proceeds of the Private Placement to support its existing operations and for general working capital purposes.
In connection with closing, the Company issued 79,983 Shares (the "Admin Fee Shares") of the Company to Amalfi Corporate Services Ltd., as an administrative fee for their assistance with the Private Placement.
Pursuant to applicable securities laws, all securities issued under the Private Placement will be subject to a statutory hold period of four months and one day, expiring on June 5, 2025.
Additionally, the Company announces, further to its news release dated November 1, 2024, September 19, 2024, June 19, 2024 and March 14, 2024, that it has extended its engagement of MIC Market Information & Content Publishing (business address: Gerhart-Hauptmann-Str. 49B, 51379 Leverkusen, Germany; email: contact@micpublishing.de; telephone: +49 2171-7766628; and website: www.micpublishing.de ("MIC") for the provision of a range of online marketing services encompassing campaign creation, production of marketing materials, as well as research and analytics (the "Services"). The Services are expected to commence immediately and continue until May 5, 2025, or until budget exhaustion; provided, however, that the Services may be extended or shortened at the discretion of the Company depending on, among other things, the efficacy of the Services. The Company has agreed to pay to MIC EUR125,000 in consideration for the extension of Services. The Company has not provided any securities to MIC or its principals as compensation for the Services. The Services will occur via digital channels Google Ads and native advertising.
About Green Bridge Metals
Green Bridge Metals Corporation (formerly Mich Resources Ltd.) is a Canadian based exploration company focused on acquiring ‘battery metal' rich mineral assets and the development of the South Contact Zone (the "Property") along the basal contact of the Duluth Intrusion, north of Duluth, Minnesota. The South Contact Zone contains bulk-tonnage copper-nickel and titanium-vanadium in ilmenite hosted in ultramafic to oxide ultramafic intrusions. The Property has exploration targets for bulk-tonnage Ni mineralization, high grade Ni-Cu-PGE magmatic sulfide mineralization and titanium.