General Metals Raises Over $303,000 via Private Placement

RENO, Nevada Private Placement – General Metals Corporation recently raised more than $246,000 in cash from a recent private placement of 13,956,665 restricted common shares. In addition, 1,716,666 restricted common shares were issued for services provided to the company related, consulting services valued at approximately $57,000. The securities offered in the private placement to the investors were not registered under the Securities Act of 1933 as amended (the “Act”), and may not be offered or sold in the United States absent registration, or an applicable exemption from registration, under the Act. The placement will be fully detailed in an 8-K filing to follow.

Use of proceeds will be to pay for essential services, pay outstanding payables incurred for drilling and permitting and to further advance permitting and metallurgical testing.
http://www.marketwatch.com/story/general-metals-raises-over-303000-via-private-placement

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