SOURCE: GPM Metals Inc.

September 01, 2016 13:12 ET

GPM Metals Inc. Announces Record Date for Distribution of Sandy Lake Shares

TORONTO, ON--(Marketwired - September 01, 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 set September 13, 2016 (the "Record Date") as the record date for the distribution (the "Distribution") to its shareholders of approximately 40,000,000 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 will be effected by way of return of stated capital. The Distribution will take place on September 16, 2016, and in connection therewith, each registered shareholder of GPM as of the Record Date will be entitled to receive approximately 0.65 Consideration Shares for each common share of GPM held, provided that no shareholder will be entitled to receive any fractional interests in Consideration Shares (or cash payment or any other form of consideration in lieu thereof) and any such fractional interests shall be rounded down to the nearest whole number.

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.

Forward-Looking Statements -- Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of GPM, including, but not limited to the failure to complete the Distribution as currently proposed or at all, and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.

Contact Information

  • For further information please contact:

    John Patrick Sheridan
    Chief Executive Officer
    (416) 628-5904
    Email: info@gpmmetals.ca