General Metals Raises Over $140,000 via Private Placement

General Metals Corporation raised more than $101,000 in cash from a recent private placement of 1,381,000 restricted common shares and 690,500 warrants. In addition, 521,000 restricted common shares were issued for services to be provided for company related director’s fees and investor relations services valued at $39,000. Each Warrant shall be non-transferable and shall entitle the holder thereof to purchase one share of common stock in the capital of the Company (each, a “Warrant Share”), as presently constituted, for a period of 24 months commencing from the effective date of the placement, which will be fully detailed in an 8-K filing to follow. 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.

“As we all know this is a difficult market in which to raise capital and Management wishes to thank those shareholders who have expressed their confidence in our future during these difficult and confusing times. Use of proceeds will be applied to completing a technical resource report and assisting in production development efforts being handled by Dyer Engineering of Reno, NV,” said Company President and CEO, Steve Parent.