GEA Technologies Announces Common Share Offering and Option Grant

GEA Technologies (CVE:GEA.H) has announced a non-brokered private placement of up to 2 million Class A common shares at $0.05 per share for gross proceeds of $100,000, subject to TSXV approval.
As quoted in the press release:

Certain directors, officers or other insiders of the Company may participate in the Private Placement and, collectively, their participation may exceed 25% of the total amount of the financing.
The proceeds from the Private Placement will be used to fund the working capital requirements of the Company. All securities issued pursuant to the Private Placement will be subject to a standard statutory four month hold period in accordance with applicable securities laws. Closing of this Private Placement may occur in one or more tranches.
The Company also announces the grant of an aggregate of 880,000 options to acquire common shares of the Company to officers, directors and consultants of the Company, each such option being exercisable at a price of C$0.06 per common share for a five-year term expiring on April 11, 2022. The stock options have all vested immediately upon the date of grant. The stock options, and any common shares issued upon exercise of the stock options, are subject to a four-month hold period expiring on August 12, 2017.

Click here to read the full press release.

Source: www.marketwired.com