MONTRÉAL, Dec. 15, 2022 /CNW Telbec/ - Genius Metals Inc. (TSXV: GENI) ("Genius Metals" or the "Corporation") announces it has added $56,000 to its initial non-brokered private placement offering closed on November 28, 2022 (see news release dated on December 1st, 2022). The second tranche brings the total proceeds of this offering to $691,000 (the "Private Placement"). 

Under the second tranche closed on December 13, 2022, the Corporation issued:

• 600,000 units of the Corporation (the "Units") at a price of $0.05 per Unit, with each such unit being comprised of one common share of the Corporation ("Common Share") and one common share purchase warrant entitling the holder thereof to purchase one Common Share at an exercise price of $0.15 until December 13, 2024; and
• 433,340 common shares issued as "flow through shares" (the "Flow Through Shares") at a price of $0.06 per Flow-Through Share.

The Corporation will use the net proceeds of the sale of Flow Through Shares to incur qualifying expenditures on its Quebec properties, and the net proceeds of the sale of Units for exploration on its mining properties and general working capital purposes.

All securities issued pursuant to the Private Placement are subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of their issuance.

The Private Placement remains subject to the final approval of the TSX Venture Exchange ("TSXV").

Genius Metals is a Canadian mineral exploration company focused on the acquisition, exploration and, if warranted, development of natural resource properties of merit in Canada.

Forward-Looking Statements and Disclaimer

Certain information contained herein may constitute "forward-looking information" under Canadian securities legislation. Generally, forward-looking information can be identified using forward-looking terminology such as, "will be", "expected" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements, including statements relating to the anticipated use of the proceeds from the Private Placement and the final approval of the TSXV, are based on the Corporation's estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Corporation to be materially different from those expressed or implied by such forward-looking statements or forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. The Corporation will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Genius Metals Inc.

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