SOURCE: GPM Metals Inc.

September 16, 2016 17:00 ET

GPM Metals Inc. Announces Distribution of Sandy Lake Shares

TORONTO, ON--(Marketwired - September 16, 2016) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

GPM Metals Inc. ("GPM" or the "Company") (TSX VENTURE: GPM) announces it has completed its previously announced distribution (the "Distribution") to its shareholders of an aggregate of 39,999,958 common shares (the "Consideration Shares") of Sandy Lake Gold Inc. (formerly Lago Dourado Minerals Ltd.) ("SLG") which it received as consideration for the sale of its interests in the Sandy Lake district of Northwestern Ontario to SLG. The Distribution has been effected by way of return of stated capital, pursuant to which each registered shareholder of GPM as of September 13, 2016 (the record date for the Distribution) received approximately 0.65 Consideration Shares for each common share of GPM held, provided that any resulting fractional interests were rounded down to the nearest whole number. The Consideration Shares are subject to a statutory hold period expiring November 22, 2016.

Neither the 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 and / or accuracy of this release.

Contact Information

  • For further information please contact:
    John Patrick Sheridan
    Chief Executive Officer
    (416) 628-5904
    Email: info@gpmmetals.ca