Genius Properties Ltd.
CNSX : GNI

Genius Properties Ltd.

October 28, 2015 19:46 ET

Genius Abandons Reiva and Announces the Resignation of Three Directors and Its President and Chief Executive Officer

MONTREAL, QUEBEC--(Marketwired - Oct. 28, 2015) - Genius Properties Ltd. (the "Corporation" or "Genius") (CSE:GNI) and 9191364 Canada Inc (« 9191364 ») agree to terminate and resolve the rollover agreement of the "Reïva" assets that was entered into in May 2015.

9191364 surrenders and transfers to Genius for cancellation the 30 million common shares of Genius issued as consideration in the context of the agreement. Consequently, the Company shall transfer to 9191364 all assets purchased under the rollover agreement.

9191364 assumes and bears accounts payable of certain suppliers and 9191364 agrees to indemnify and save harmless the Company from any claim or damage of any kind whatsoever with respect to accounts payable directly connected to Reïva.

In addition, the Company announces that Mr. Denis Richard resigned from his position as President and Chief Executive Officer and as Director.

The Company is pleased to announce the appointment of Mr. Stéphane Leblanc as President and Chief Executive to replace Mr. Richard, effective immediately. Mr. Leblanc is an entrepreneur with over 12 years of experience. He participated in activities of all aspects from sales and marketing, public relations, communications, corporate finance; including strategic advisory services, mergers and acquisitions, raising private capital, savings (Initial Public Offerings and RTO), listing on the Toronto Stock Exchange, Canadian Stock Exchange, OTC and other international exchanges.

Mr. Leblanc has participated in many small-cap companies successes as VP of business under his personal holding company development. Mr. Leblanc is an entrepreneur by heart, involved in many other projects, including the "Québec Mineral Properties", a mining claims management company that owns more than 6000 claims within the province of Quebec and South America and Africa .Mr. Leblanc also collaborated with several companies: Pershimco Resources, Focus Graphite, Adventure Gold, Glen Eagle Resources, Knick Exploration, and several other companies for the sale of properties.

Mr. Leblanc is President & CEO and a Director of Canadian Metals Inc. Canadian Metals Inc. is focused exclusively on the development of its Langis Project, a high-purity silica deposit located in the province of Quebec. The Company is rapidly positioning itself to become a North American ferrosilicon producer, listed on the stock exchange, CSE (CSE:CME).

The Company also announces that Mr. Guy Chamberland and Mr. Daniel Simard resigned from their duties as directors. The Company wishes to thank Mr. Chamberland and Mr. Simard for their contribution and wish them all the best in their future endeavors.

The Company encourages and wishes good luck to Mr. Richard in the future development of the Reïva project.

Following the cancellation of the 30,000,000 common shares, the Corporation will have 40,295,010 common shares outstanding.

About Genius Properties

Genius is targeting Quebec's excellent mineral potential to discover new world-class deposits. Genius is the ideal partner for exploration companies and capital pool companies looking for qualified transaction projects of merit.

The CSE has neither approved nor disapproved the contents of this press release. The CSE does not accept responsibility for the adequacy or accuracy of this release.

Contact Information