American Marconi Wireless News - Green Bridge Metals Announces Closing of Non-Brokered Private Placement

The Company intends to utilize the net proceeds of the Private Placement to support its existing operations and for general working capital purposes.

Pacific Opportunity Capital Ltd., an entity controlled, by Mark Brown, a director of the Company subscribed for an aggregate total of 400,000 Units for gross proceeds of $36,000.00. Such participation is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101, which exemptions are set forth in in Sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the participation in the Private Placement by Pacific Opportunity Capital Ltd. did not exceed twenty-five percent (25%) of the market capitalization of the Company, as determined in accordance with MI 61-101.The Company did not file a material change report more than 21 days before the expected closing of the Private Placement because the details of the participation therein by related parties of the Company were not confirmed until shortly prior to closing of the Private Placement.

The Company paid aggregate finders' fees of $193,627.55 cash and issued 2,151,417 finders' warrants to arm's length parties who assisted in introducing subscribers to the Private Placement.

The Company also issued 666,666 Shares, equal to 1.0% of the total of Units issued in the Private Placement (the "Admin Fee Shares") to an arm's-length third party, as an administrative fee for its assistance with the Private Placement.

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 Property has exploration targets for bulk-tonnage Ni mineralization, high grade Ni-Cu-PGE magmatic sulfide mineralization and titanium.

ON BEHALF OF GREEN BRIDGE METALS,

"David Suda"
President and Chief Executive Officer

For more information, please contact:

David Suda
President and Chief Executive Officer
Tel: 604.928-3101
[email protected]

Neither the Canadian Securities Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward Looking Information

Certain statements and information herein contain forward-looking statements or forward-looking information within the meaning of applicable securities laws ("forward-looking statements"). Such forward-looking statements include but are not limited to statements or information with respect to the use of proceeds of the Private Placement.

Although management of the Company believe that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Forward- looking statements in this news release include statements regarding the proposed use of proceeds of the Private Placement.

The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

Reader Advisory

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Suite 800, 1199 West Hastings Street Vancouver, British Columbia, V6E 3T5 www.greenbridgemetals.com

SOURCE: Green Bridge Metals Corporation

View the original press release on ACCESS Newswire

Y.Kobayashi--AMWN