TORONTO, March 31, 2015 /CNW/ - GPM Metals Inc. ("GPM" or the "Company") announces it has completed the previously announced sale of its Guyana exploration properties to Bartica Investments Ltd. ("Bartica") effective March 30, 2015. As consideration for the sale, the Company is entitled to an aggregate cash payment of $650,000, of which $350,000 was paid at closing and the balance is payable on or prior to the first anniversary of closing. The sale is a non-arms length transaction as Mr. Patrick Sheridan is both an officer and director of the Company, as well as a significant shareholder of Bartica.
For further information, please refer to the details of transaction previously disclosed in a news release of GPM dated June 13, 2014, available on SEDAR at www.sedar.com.
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.
SOURCE GPM Metals Inc.
For further information: GPM Metals Inc., Suite 301, 141 Adelaide Street West, Toronto, Ontario M5H 3L5, Attn: John Patrick Sheridan, CEO, Tel: (416) 628-5904, Fax: (416) 628-6835, E-mail: [email protected]