Geomega Receives $1.235M from Exercise of Warrants and Other Instruments

• Strongest ever money place to drive record investments in business R&D apps
• Around $5.1M in funds and funds equivalents
• $3M fascination-free personal debt facility thoroughly out there from IQ for REE recycling demo plant
• Over $4.2M R&D non-dilutive funding commitments from governments & business companions

MONTREAL, Might 10, 2022 (Globe NEWSWIRE) — Geomega Means Inc. (“Geomega” or the “Corporation”) (TSX.V: GMA) (OTC: GOMRF) a developer of thoroughly clean systems for the mining, refining and recycling of exceptional earths, is delighted to update traders on its present-day fiscal placement. Given that the commencing of the current fiscal calendar year (June 1, 2021), the Corporation has lifted in excess of $1,234,509 by way of the exercising of many fiscal instruments (warrants, broker warrants and alternatives) ensuing in the issuance of a blended whole of 7,047,763 popular shares. All warrants expiring in May well 2022 and priced at $.15 have been exercised. Geomega now has more than $5.1M in dollars and hard cash equivalents on hand and an offered Financial debt Facility from Investissement Quebec in the amount of $3.046M for the products and development of the unusual earths recycling demonstration plant in Saint-Bruno-de-Montarville, Quebec.

“Geomega is in the strongest fiscal position it has at any time been. The most latest private placement funding with cornerstone trader Mr. Michael Gentile, CFA (see press release from Could 4, 2022) together with the aforementioned protection physical exercises and other committed funding, will make it possible for the Company to accelerate and absolutely fund it is important industrial targeted projects this kind of as the magnet recycling plant, our bauxite residues venture with Rio Tinto and the application of our IP and technological know-how system to the 100% owned Montviel scarce earth deposit. This funding is in addition to the $4.2M (see press release from February 9, 2022 and Might 4, 2022) in non-dilutive funding commitments from governments and field associates this sort of as Rio Tinto. Supplied the Corporation’s solid equilibrium sheet, we really should be in a position to considerably accelerate each our present-day initiatives and our thrilling pipeline of R&D progress initiatives centered on sustainable systems in important and strategic metals. With record stages of investment decision prepared in our numerous business targeted plans and with end current market demand from customers for our alternatives hardly ever being more powerful, the long run seems to be pretty dazzling for Geomega.” commented Kiril Mugerman, President and CEO of Geomega.

About Geomega (www.geomega.ca)
Geomega develops ground breaking technologies for extraction and separation of uncommon earth aspects and other essential metals important for a sustainable long run. With a emphasis on renewable energies, auto electrification, automation and reduction in electricity utilization, scarce earth magnets or neo-magnets (NdFeB) are at the centre of all these systems. Geomega’s strategy revolves close to gradually de-jeopardizing its ground breaking engineering and offering cashflow and return benefit to shareholders even though doing the job right with the principal players in these industries to recycle the magnets that ability all individuals technologies.

As its systems are demonstrated on much larger scales, Geomega is fully commited to perform with big companions to assist extract worth from mining feeds, tailings and other industrial residues which include scarce earths and other significant metals. Irrespective of the metal or the resource, Geomega adopts a constant solution to decrease the environmental impression and to lead to reducing greenhouse gases emissions via recycling of the key reagents in the course of action.

Geomega’s core undertaking is centered close to the ISR Engineering (Innord’s Separation of Uncommon Earths), a proprietary, small-charge, environmentally pleasant way to tap into a C$1.5 billion global market to recycle magnet manufacturing waste and close of everyday living magnets profitably and securely.

Geomega is applying its technological innovation to bauxite residues, the squander from alumina manufacturing, and is doing the job with Rio Tinto to scale up the know-how. Bauxite residues valorization could open up a marketplace of about 17.5B$ exactly where 175M tonnes of new waste is generated per year.

Geomega also owns the Montviel exceptional earth carbonatite deposit, the biggest NI 43-101 bastnaesite useful resource estimate in North The us and retains around 16.8M shares, symbolizing about 14% of the issued and fantastic shares, of Kintavar Exploration Inc. (KTR.V), a mineral exploration enterprise that is discovering for copper assignments in Quebec, Canada.

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This information release includes statements that could constitute “forward-hunting information” or “forward-wanting statements” inside of the indicating of applicable Canadian securities laws. Forward-seeking data and statements could consist of, among the other folks, statements concerning future programs, charges, goals or performance of the Company, or the assumptions fundamental any of the foregoing. In this news launch, words these types of as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and related words and phrases and the unfavorable type thereof are utilized to establish forward-on the lookout statements. Forward-wanting statements must not be go through as guarantees of upcoming functionality or success, and will not automatically be exact indications of whether, or the situations at or by which, this sort of long term overall performance will be obtained. No assurance can be given that any gatherings anticipated by the ahead-seeking information and facts will transpire or take place, such as as regards the commercialization of any of the technological innovation referred to higher than, or if any of them do so, what benefits the Corporation will derive. Forward-wanting statements and data are primarily based on data out there at the time and/or management’s superior-faith belief with regard to future activities and are matter to regarded or mysterious hazards, uncertainties, assumptions and other unpredictable elements, many of which are past the Corporation’s control. These pitfalls, uncertainties and assumptions consist of, but are not limited to, people explained under “Risk Factors” in the Corporation’s yearly management’s discussion and analysis for the fiscal 12 months ended Could 31, 2021, which is readily available on SEDAR at www.sedar.com they could trigger genuine functions or effects to differ materially from those projected in any ahead-searching statements. The Corporation does not intend, nor does the Corporation undertake any obligation, to update or revise any forward-looking info or statements contained in this information launch to mirror subsequent info, events or conditions or usually, apart from if needed by applicable rules.