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GéoMégA Resources Inc. (GMA.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.1750+0.0050 (+2.94%)
At close: 11:57AM EDT
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Previous Close0.1700
Open0.1800
Bid0.1700 x 0
Ask0.1800 x 0
Day's Range0.1700 - 0.1800
52 Week Range0.0900 - 0.2300
Volume97,442
Avg. Volume134,926
Market Cap18.298M
Beta (5Y Monthly)1.19
PE Ratio (TTM)N/A
EPS (TTM)-0.0150
Earnings DateSep. 13, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Geomega Resources Inc.: Annual Meeting Results
    GlobeNewswire

    Geomega Resources Inc.: Annual Meeting Results

    MONTREAL, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Geomega Resources Inc. (“Geomega” or the “Corporation”) (TSX.V: GMA) announces that shareholders have approved all resolutions put forth at the Annual Meeting of Shareholders (the “Annual Meeting”) held in Montreal, Quebec, on Wednesday, October 21, 2020. Gilles Gingras, Kiril Mugerman, Mario Spino, Kosta Kostic, Matt Silvestro and Nick Nickoletopoulos were elected to serve as directors of the Corporation (the “Board”). In addition, the Corporation announces the re-appointment of PricewaterhouseCoopers, LLP as auditors for the ongoing year and the re-approval of the 10% rolling stock option plan.Subsequent to the Annual Meeting, the directors renewed Kiril Mugerman as President and Chief Executive Officer, Pouya Hajiani as Chief Technology Officer, Mathieu Bourdeau as Chief Financial Officer and Corporate Secretary and Alain Cayer as Vice President of Exploration.“I am pleased to report to shareholders Geomega is at a very exciting inflection point in its history thanks to the tireless efforts over the last 12 months by our team. Pilot testing is progressing very well which is critical for detailed engineering. We are looking forward to start ordering the main equipment for the facility that will house production of rare earth elements from magnet recycling. Many thanks to our loyal shareholders who are ready to embark on the next stage of this exciting journey: Using our clean technology to produce rare earth elements from recycling magnets and eventually from other sources such as mining and tailings.” commented Kiril Mugerman, President and CEO of Geomega.Stock Option GrantsFollowing the results of the Annual Meeting, 250,000 stock options at an exercise price of $0.18 per option have been granted to Mr. Nickoletopoulos who joined the Board. These options may be exercised for a period of 5 years after the grant date and are vesting at a rate of 25% per six-month period, in accordance with the terms of the stock option plan of the Corporation.About Geomega (www.geomega.ca) Based in Boucherville and St-Bruno, Canada, Geomega Resources has developed a proprietary, environmentally friendly “ISR Technology” that recycles rare earth elements with focus on the permanent magnet industry and produces four high demand, high price, rare earth elements (HHREE – specifically Nd, Pr, Tb, Dy).The Corporation progresses towards initial production from its demonstration plant to supply HHREE’s to North America and other parts of the world.Geomega also owns the Montviel rare earth carbonatite deposit and holds over 16.8M shares, representing approximately 19% of the issued and outstanding shares of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is advancing the Mitchi stratiform copper project in Quebec.For further information, please contact: Kiril Mugerman President and CEO Geomega 450-641-5119 ext.5653 kmugerman@geomega.ca   Nancy Thompson Vorticom Public Relations 212-532-2208 nancyt@vorticom.com Twitter: @Geomega_REE Cautions Regarding Forward-Looking Statements Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2020, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

  • GlobeNewswire

    Geomega obtains a total loan of $ 3M from the Quebec government

    MONTREAL, Sept. 30, 2020 (GLOBE NEWSWIRE) -- Geomega Resources Inc. (“Geomega” or the “Corporation”) (TSX:V.GMA) (OTC: GOMRF), a developer of clean technologies for the mining, refining and recycling of rare earths, is pleased to announce that it has secured additional debt financing of $1,326,000, which will be added to the funds required to build the rare earth magnet recycling demonstration plant in Saint-Bruno-de-Montarville, Quebec. Project financing will be provided by Investissement Quebec (“IQ”), who will be acting as agent on behalf of the Quebec Government to secure funding for the project. The amount is in addition to the first tranche amount of $1,720,000 that was announced on February 7, 2020. The debt financing aggregate amount will now total $3,046,000 and will have the same favorable terms as the first tranche, including the fact that the debt is non-interest bearing. The increased amount of debt financing is based on an updated project evaluated at $4,800,000 including capital costs and working capital (which was previously estimated at $3,200,000). The increased cost results from internal evaluations by the Corporation based on the completed engineering work and adjusts for delays, associated with restrictions imposed by the COVID pandemic and engineering work, and higher costs of engineering and construction.The proposed use of funds will be towards the purchase of equipment, as well as engineering and construction of the demonstration plant. This non dilutive debt financing for the Corporation has no warrants or finder’s fees attached. This debt financing will supplement the funds currently held by the Corporation and other non-reimbursable grants that Geomega has applied for and, in certain cases, obtained (see 2020 Annual MD&A report of the Corporation for more details).“We are very grateful for the continuing support from the Government of Québec which has once again demonstrated its commitment and leadership in respect of home grown innovative technology initiatives with this follow-on financing which builds upon their first investment in our project earlier this year. The Quebec Government is working hard to help establish clean, and innovative production of the critical metals that will simultaneously create jobs and produce materials needed for the industries of tomorrow. Its commitment to transformation and recycling of rare earth elements will help attract further downstream industries and establish a clean and sustainable rare earths refining industry in Quebec. With this funding portion now complete, we are looking forward to the completion of pilot testing which we began in August 2020 and then proceed to finalize engineering and begin construction.” commented Kiril Mugerman, President & CEO of Geomega. “This comprehensive investment by our government is intended to encourage the development of a green economy. This is a major aspect of the Geomega project. Also, recycling rare earths elements is an avenue for the enhancement and development of critical and strategic minerals in Quebec. With technologies and the energy transition, demand is strong for these minerals.” Jonatan Julien, Minister of Energy and Natural Resources, Minister responsible for the Côte-Nord region.The Corporation will continue to update shareholders as the construction of the demonstration plant progresses.About Geomega (www.geomega.ca) Based in Boucherville and St-Bruno, Canada, Geomega Resources has developed a proprietary, environmentally friendly “ISR Technology” that recycles rare earth elements with focus on the permanent magnet industry and produces four high demand, high price, rare earth elements (HHREE – specifically Nd, Pr, Tb, Dy).The Corporation is targeting 2020 for initial production from its demonstration plant to supply HHREE’s to North America and other parts of the world.Geomega also owns the Montviel rare earth carbonatite deposit and holds over 16.8M shares, representing approximately 19% of the issued and outstanding shares of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is advancing the Mitchi stratiform copper project in Quebec.About Innord Inc. Innord is a private wholly owned subsidiary of Geomega. The goal of Innord is to develop and optimize the proprietary ISR Technology for extraction and separation of rare earth elements. Innord focuses on scaling up the technology through processing rare earth enriched secondary sources (recycling of end of life and manufacturing waste) and then to apply the technology to primary mining feeds.About Investissement Québec Investissement Quebec's mission is to actively participate in Québec’s economic development by stimulating innovation in businesses, entrepreneurship and the growth of investment and exports in all regions of Québec. The Company offers businesses and entrepreneurs services, such as technological support, as well as adapted financial solutions and investments. Through its Investissement Québec International division, the Company is responsible for supporting export companies and ensuring the prospecting of foreign investments.For further information, please contact:Kiril Mugerman President and CEO Geomega 450-641-5119 ext.5653 kmugerman@geomega.ca Nancy Thompson Vorticom Public Relations 212-532-2208 nancyt@vorticom.com Twitter: @Geomega_REECautions Regarding Forward-Looking Statements Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2020, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.

  • GlobeNewswire

    Geomega Adds Technical and Operations Management Experience; Nominates Nicholas Nickoletopoulos to its Board of Directors

    MONTREAL, Sept. 16, 2020 (GLOBE NEWSWIRE) -- Geomega Resources Inc. (“Geomega” or the “Corporation”) (TSX:V.GMA) (OTC: GOMRF), a developer of clean technologies for the mining, refining and recycling of rare earths, is pleased to announce that Mr. Nicholas Nickoletopoulos will be presented as a new nominee to the board of directors of Geomega. Director Jean Demers will not be standing for re-election. The new director will be proposed at Geomega’s Annual General Meeting (“AGM”) which will take place on Wednesday October 21st, 2020 at 10 a.m. (Eastern Time) at McMillan LLP 1000, Sherbrooke W, Suite 2700, Montréal, Québec.“As Geomega evolves to its next stage of growth, the company keeps adding new expertise and knowledge to its board of directors. Nicholas brings the technical metallurgical engineering background that was missing and adds to the operations management experience.” said Kiril Mugerman, President & CEO of Geomega. “His background in operations both in Quebec and abroad will be instrumental as the Corporation looks to expand its operations in the future. His knowledge of the metals processing industry could open the door to other industrial waste streams where critical metals could be extracted and are being lost today. Recruiting a Quebec-born candidate of his caliber who spent his career in manufacturing locally specialized goods and who successfully expanded outside the province is great for Geomega and demonstrates the deep and diversified pool of talent in Quebec. Additionally, I would like to thank Director Jean Demers for his contribution to the Corporation and wish him well in his future endeavours.”Mr. Nicholas Nickoletopoulos, P. Eng. (ON), Ph.D. brings over 25 years of operational, technical and executive management experience in the metals industry.  Currently, he is President, Managing Director and minority shareholder of Metalunic, a Quebec-based manufacturer of metallic building envelope products primarily composed of Canadian base materials. Previously, Nicholas led Urecon as President, CEO, minority shareholder and Director from 2013, a Canadian-based manufacturer of factory-insulated piping systems and insulated product solutions until its acquisition by Switzerland based Georg Fischer Ltd. in 2019 (FI-N on the SIX Swiss Exchange).  From 2009 to 2013, he was General Manager for Sivaco Wire Group and Ifastgroupe concurrently, both Quebec-based manufacturers of carbon and alloy steel products with 5 manufacturing facilities in Quebec and Ontario and 7 distribution facilities across North America.  From 1994 to 2009 he held various posts including Manager of Technical Services and Product Development and Director of Marketing for Ivaco Rolling Mills.  Dr. Nickoletopoulos sat on the Board of Directors of Durabox Paper Inc. from 2003 to 2016 until it was acquired by Supremex Inc. (SXP on the TSX). He sat on the Board of Wire Association International based in Madison, Connecticut, and acted as President and Chairman in 2012.  Dr. Nickoletopoulos holds a Ph.D. and a Bachelors degree in Metallurgical Engineering from McGill University and is a member of the Professional Order of Engineers of Ontario since 1997.About Geomega (www.geomega.ca) Based in Boucherville and St-Bruno, Quebec, Canada, Geomega Resources has developed a proprietary, environmentally friendly “ISR Technology” that recycles rare earth elements with focus on the permanent magnet industry and produces four high demand, high price, rare earth elements (HHREE), specifically Nd, Pr, Tb and Dy.The Corporation is advancing towards initial production phase from its demonstration plant to supply HHREE’s to North America and other parts of the world.Geomega also owns the Montviel rare earth carbonatite deposit and holds over 16.8M shares, representing approximately 19% of the issued and outstanding shares, of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is advancing the Mitchi stratiform copper project in Quebec.For further information, please contact:Kiril Mugerman President and CEO Geomega 450-641-5119 ext.5653 kmugerman@geomega.ca Nancy Thompson Vorticom Public Relations 212-532-2208 nancyt@vorticom.com Twitter: @Geomega_REE Cautions Regarding Forward-Looking Statements Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of the Corporation, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, including as regards the commercialization of any of the technology referred to above, or if any of them do so, what benefits the Corporation will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond the Corporation’s control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in the Corporation’s annual management’s discussion and analysis for the fiscal year ended May 31, 2020, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.