Germanium Mining Corp. Announces Non-Brokered Private Placement and Debt Settlement

Core Points - Germanium Mining Corp has arranged a non-brokered private placement of up to 2,500,000 units at a price of CAD $0.10 per unit, aiming for gross proceeds of up to CAD $250,000 [1] - Each unit consists of one common share and one transferable common share purchase warrant, with warrants allowing the purchase of additional shares at CAD $0.12 for 24 months [1] - The company will issue 4,245,900 common shares at a deemed price of CAD $0.10 per share to settle CAD $424,590 of debt [1] - Following the private placement, there will be 11,864,215 shares outstanding on a non-diluted basis [1] Regulatory Compliance - The company will rely on an exception from the requirement to obtain shareholder approval for issuing more than 100% of its issued share capital on a fully diluted basis due to financial hardship [2] - The Canadian Securities Exchange (CSE) granted the exception based on the company's financial situation and the determination by independent directors that the offering is in the best interests of the company [2] Use of Proceeds - Net proceeds from the placement will be allocated towards exploration activities and general corporate purposes, including arm's length payables [3] - A commission of up to 10% may be applicable on the private placement, and all securities issued will be subject to a statutory hold period of four months and one day [3]