GMV Minerals Inc. announces increase in size of previously announced brokered
private placement financing

/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES/

VANCOUVER, June 15 /CNW/ - GMV Minerals Inc. (the "Company" or "GMV") (TSX-V:GMV) is pleased to announce the pricing and an increase in the expected size of the private placement financing of units (the "Units") of the Company announced on May 10, 2010. GMV and Max Capital Markets Ltd. (the "Agent") have agreed that up to 21,666,666 Units will be offered at a price of $0.15 per Unit (the "Private Placement") for aggregate gross proceeds of up to $3,250,000, rather than the previously announced $2,500,000.

Each Unit shall be comprised of one common share (a "Common Share") and half of one common share purchase warrant (a "Purchase Warrant"). Each whole Purchase Warrant shall be exercisable into one Common Share at an exercise price of $0.25 per Common Share for 24 months following the closing of the Private Placement.

In consideration for its services, the Agent shall receive a placement fee equal to 8% of the aggregate gross proceeds raised in connection with the Private Placement as well as broker warrants (the "Broker Warrants") in an amount equal to 10% of the Units sold under the Private Placement. Each Broker Warrant will be exercisable into one Common Share at a price of $0.15 per Common Share for 24 months following the closing of the Private Placement.

The proceeds of the Private Placement will be used for exploration expenditures and for working capital and general corporate purposes.

All of the Common Shares and Purchase Warrants issued pursuant to the Private Placement are subject to a 4-month hold period. Completion of the Private Placement is conditional on and subject to the final approval of the TSX Venture Exchange.

The Private Placement is expected to close on or about June 21, 2010.

Neither 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 or has in any way passed upon the merits of the Acquisition and has neither approved nor disproved the contents of this press release.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or the securities laws of any state, and may not be offered or sold in the United States unless an exemption from registration is available. This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities in the United States.

This news release may contain forward-looking statements based on assumptions and judgments of management of the Company regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. The Company disclaims any intention or obligation to revise or update such statements except as may be required by law.

SOURCE GMV Minerals Inc.

For further information: For further information: GMV Minerals Inc., Ian Klassen, Tel: (604) 899-0106, www.gmvminerals.com, Email: klassen@gmvminerals.com

Organization Profile

GMV Minerals Inc.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890