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GéoMégA Resources Inc. (GMA.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.44500.0000 (0.00%)
At close: 3:53PM EDT
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Previous Close0.4450
Open0.4650
Bid0.4450 x 0
Ask0.4500 x 0
Day's Range0.4450 - 0.4650
52 Week Range0.1250 - 0.6000
Volume344,862
Avg. Volume493,893
Market Cap56.303M
Beta (5Y Monthly)1.13
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 Receives $1.07M from Exercise of Warrants and Other Instruments; Well Funded to Accelerate Rare Earths Recycling and other R&D Initiatives
    GlobeNewswire

    Geomega Receives $1.07M from Exercise of Warrants and Other Instruments; Well Funded to Accelerate Rare Earths Recycling and other R&D Initiatives

    MONTREAL, March 08, 2021 (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 update investors on its financial position. From November 30th, 2020 to March 5th, 2021 the Corporation had raised over $1,078,278 through the exercise of various financial instruments (warrants, broker warrants and options) for a combined total of 6,316,233 shares. Geomega now has over $3.4M cash and cash equivalents on hand and an available Debt Facility from Investissement Quebec for $3.046M. “Geomega is in a strong position financially and is well positioned to reach production from the rare earths recycling facility. Similarly, the funds available have given us the ability to accelerate our research and development initiatives to evaluate our technology to extract and refine rare earths and other critical metals from a broader range of mining feeds, including mining and industrial waste streams (tailings). Most recently, our process has been successfully demonstrated at the magnet recycling pilot plant to produce hydrogen as a by-product that could be collected (see news) and therefore Geomega continues to evaluate opportunities and synergies in this important emerging clean energy fuel in Quebec and globally. We are confident that our rare earths recycling plant and the associated technologies will be critical in the foreseeable future to become less dependant on foreign entities for the supply of critical and strategic metals, to help develop the circular economy for many of these metals and to reduce mining and industrial waste.” commented Kiril Mugerman, President and CEO of Geomega. About Geomega (www.geomega.ca)Geomega develops innovative technologies for extraction and separation of rare earth elements and other critical metals essential for a sustainable future. With a focus on renewable energies, vehicle electrification, automation and reduction in energy usage, rare earth magnets or neo-magnets (NdFeB) are at the center of all these technologies. Geomega’s strategy revolves around gradually de-risking its innovative technology and delivering cashflow and return value to shareholders while working directly with the main players in these industries to recycle the magnets that power all those technologies. As its technologies are demonstrated on larger scales, Geomega is committed to work with major partners to help extract value from mining feeds, tailings and other industrial residues which contain rare earths and other critical metals. Irrespective of the metal or the source, Geomega adopts a consistent approach to reduce the environmental impact and to contribute to lowering greenhouse gases emissions through recycling the major reagents in the process. Geomega’s core project is based around the ISR Technology (Innord’s Separation of Rare Earths), a proprietary, low-cost, environmentally friendly way to tap into a C$1.5 billion global market to recycle magnet production waste and end of life magnets profitably & safely. Geomega also owns the Montviel rare earth carbonatite deposit, the largest 43-101 bastnaesite resource estimate in North America and holds over 16.8M shares, representing approximately 16% of the issued and outstanding shares, of Kintavar Exploration Inc. (KTR.V), a mineral exploration company that is exploring for copper projects in Quebec, Canada. For further information, please contact:Kiril MugermanPresident and CEOGeomega450-641-5119 ext.5653kmugerman@geomega.ca Nancy ThompsonVorticom Public Relations212-532-2208nancyt@vorticom.comTwitter: @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.

  • Geomega Signs LOI with Everwin Magnetics
    GlobeNewswire

    Geomega Signs LOI with Everwin Magnetics

    MONTREAL, Feb. 04, 2021 (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, and Everwin Magnetics Co., Ltd. (“Everwin”), a subsidiary of Forte Mobility Co., Ltd. are pleased to announce that they have entered into a Letter of Intent (LOI) to recycle rare earth-containing production waste from Everwin’s future production facilities in Ontario, Canada. Everwin is developing the first NdFeB magnet production facility in Canada that will go from machining to surface treatment and is targeting to start with approximately 300 tonnes of annual production of rare earth magnets. Its focus is providing magnets and motors to the North American market while its parent company Forte Mobility specializes in Electric Vehicles and battery systems. “It was only a question of time before companies like Everwin have decided to bring the expertise they have developed over decades in the magnet industry in China to Canada. The favorable energy rates, a healthy labour market, direct access to the North American market, the growing electric vehicle sector and now a recycling facility with Geomega to process magnet scraps and swarf, make Canada an ideal location to develop a magnet facility. We are very excited to be working with Everwin as they look to start production in Canada. This type of operation will produce on average 25% magnet waste and swarf that will need to be recycled at our rare earths recycling facility in St-Bruno.” commented Kiril Mugerman, President and CEO of Geomega. “Our main market will be focused on various permanent magnet motors used in cars, especially the EVs as there will be a significant demand. The increase of manufacturing cost in Asia combined with automation of the production process and the cooperation with Geomega to further reduce the waste by recycling makes it competitive to produce the magnet here in North America. This will improve our customer satisfaction by reducing lead-time and convenient communication. Another advantage is the favourable treatment for locally made magnets under the new USMCA. We shall have a complete supply chain from rare earth raw materials to finished magnet products and recycling thanks to a large resource of these materials in North America. With 30 years experience in the industry, we are confident that we will provide customers the best value under this cooperative structure with Geomega.” commented Howard Peng, General Manager of Everwin. About Geomega (www.geomega.ca)Geomega develops innovative technologies for extraction and separation of rare earth elements and other critical metals essential for a sustainable future. With a focus on renewable energies, vehicle electrification, automation and reduction in energy usage, rare earth magnets or neo-magnets (NdFeB) are at the center of all these technologies. Geomega’s strategy revolves around gradually de-risking its innovative technology and delivering cashflow and return value to shareholders while working directly with the main players in these industries to recycle the magnets that power all those technologies. As its technologies are demonstrated on larger scales, Geomega is committed to work with major partners to help extract value from mining feeds, tailings and other industrial residues which contain rare earths and other critical metals. Irrespective of the metal or the source, Geomega adopts a consistent approach to reduce the environmental impact and to contribute to lowering greenhouse gases emissions through recycling the major reagents in the process. Geomega’s core project is based around the ISR Technology (Innord’s Separation of Rare Earths), a proprietary, low-cost, environmentally friendly way to tap into a C$1.5 billion global market to recycle magnet production waste and end of life magnets profitably & safely. Geomega also owns the Montviel rare earth carbonatite deposit, the largest 43-101 bastnaesite resource estimate in North America 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 exploring for copper projects in Quebec, Canada. About Everwin Magnetics (https://everwinmagnetics.com/)Everwin Magnetics focuses on the magnet and motor business serving North American customers. Located in Aurora, Ontario, Canada, Everwin magnetics is a division of Forte Mobility. Located in a 20,000 sq. ft. facility Everwin is developing NdFeB magnet production from machining to surface treatment and is offering magnet and motor solutions and associated services. For further information, please contact: Kiril MugermanPresident and CEOGeomega450-641-5119 ext.5653kmugerman@geomega.caNancy ThompsonVorticom Public Relations212-532-2208nancyt@vorticom.comTwitter: @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.

  • Stock Option Grant and Shares for Debt Settlement
    GlobeNewswire

    Stock Option Grant and Shares for Debt Settlement

    MONTREAL, Jan. 28, 2021 (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, announces that the Q2 interim financial statements for the six-month period ended November 30, 2020 have been approved at the Board of Directors meeting (“Board”) which was held on January 27, 2021 and have now been published on SEDAR and on the Corporation’s website. Stock Option GrantsOther items that were approved at the Board include the grant of 1,350,000 stock options pursuant to the Corporation’s Stock Option Plan, at an exercise price of $0.34 per option, to officers, employees and consultants of the Corporation and its subsidiary. The options to the directors, officers and employees may be exercised for a period of 5 years after the grant date and they vest gradually over a period of 24 months from the day of grant, at a rate of 1/4 per six-month period. The options to consultants may be exercised for a period of 2 years after the grant date and they vest gradually over a period of 12 months from the day of grant, at a rate of 1/4 per three-month period. No stock options were granted at the Annual General Meeting that was held on October 21, 2020. Shares for Debt SettlementIn connection with the Corporation’s efforts to clean its balance sheet in anticipation of starting production at the demonstration plant, the Corporation announced that it has entered into an agreement to issue shares in settlement of a debt of $47,858 representing accrued interest from a convertible debenture financing which closed on August 13, 2017 and other past consulting services. As consideration for the settlement of the debt, the Corporation will issue a total of 140,754 common shares at a deemed price of $0.34 per share. The convertible debentures, which were subscribed for by several members of the Corporation’s management and directors, carried an interest of 10% per annum, compounded quarterly. The debentures were converted into common shares at a price of $0.12 in August 2019 except for the accrued and compounded interest. Accordingly, this shares for debt settlement includes one current director, Gilles Gingras, and the CEO of the corporation, Kiril Mugerman. This agreement is considered a “related party transaction” under Regulation 61-101 respecting Protection of Minority Security Holders in Special Transactions (Québec) (“Regulation 61-101”) and the corresponding Policy 5.9 of the TSXV; however, the proposed settlement with the foregoing insiders is exempt from the formal valuation and minority shareholder approval requirements provided under Regulation 61-101 in accordance with sections 5.5(a) and 5.7(1)(a) of said Regulation 61-101. The exemption is based on the fact that neither the market value of the settlement with the insiders nor the consideration paid therefor exceeds 25% of the Corporation’s market capitalization. The Corporation did not file a material change report at least 21 days prior to the settlement since the transaction was not determined at that moment and the Corporation wished to close the agreement on an expedited basis for sound business reasons. The settlement is subject to approval by the TSX Venture Exchange. About Geomega (www.geomega.ca)Geomega develops innovative technologies for extraction and separation of rare earth elements and other critical metals essential for a sustainable future. With a focus on renewable energies, vehicle electrification, automation and reduction in energy usage, rare earth magnets or neo-magnets (NdFeB) are at the center of all these technologies. Geomega’s strategy revolves around gradually de-risking its innovative technology and delivering cashflow and return value to shareholders while working directly with the main players in these industries to recycle the magnets that power all those technologies. As its technologies are demonstrated on larger scales, Geomega is committed to work with major partners to help extract value from mining feeds, tailings and other industrial residues which contain rare earths and other critical metals. Irrespective of the metal or the source, Geomega adopts a consistent approach to reduce the environmental impact and to contribute to lowering greenhouse gases emissions through recycling the major reagents in the process. Geomega’s core project is based around the ISR Technology (Innord’s Separation of Rare Earths), a proprietary, low-cost, environmentally friendly way to tap into a C$1.5 billion global market to recycle magnet production waste and end of life magnets profitably & safely. Geomega also owns the Montviel rare earth carbonatite deposit, the largest 43-101 bastnaesite resource estimate in North America 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 exploring for copper projects in Quebec, Canada. For further information, please contact: Kiril MugermanPresident and CEOGeomega450-641-5119 ext.5653kmugerman@geomega.ca Nancy ThompsonVorticom Public Relations212-532-2208nancyt@vorticom.comTwitter: @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.