MONTREAL, May 10, 2022 (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 current financial position. Since the beginning of the current fiscal year (June 1, 2021), the Corporation has raised over $1,234,509 through the exercise of various financial instruments (warrants, broker warrants and options) resulting in the issuance of a combined total of 7,047,763 common shares. All warrants expiring in May 2022 and priced at $0.15 have been exercised. Geomega now has over $5.1M in cash and cash equivalents on hand and an available Debt Facility from Investissement Quebec in the amount of $3.046M for the equipment and construction of the rare earths recycling demonstration plant in Saint-Bruno-de-Montarville, Quebec.
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