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Geomega Resources Inc. (TSXV:GMA) announced the final closing of a brokered private placement with Industrial Alliance Securities Inc. acting as agent consisting of 1,796,000 units at a subscription price of $0.60 per unit for gross proceeds of $1,077,600. The total gross proceeds are $3,315,000 including the first tranche of the private placement.
As quoted in the press release:
The Company will use the proceeds of the Private Placement for the ongoing development of the separation process, exploration and development at the Montviel property located in Quebec and working capital purposes.
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