Go Metals Closes Private Placement

Vancouver, British Columbia--(Newsfile Corp. - March 10, 2022) - Go Metals Corp. (CSE: GOCO) ("Go Metals" and/or the "Company") is pleased to announce that it has closed a non brokered private placement of 12,700,000 units (the "Units") issued at a price of $0.125 per Unit for gross proceeds of $1,587,500 and it has issued 100,000 flow-through shares (the "FT Shares") issued at a price of $0.16 per FT Share for gross proceeds of $16,000 (the "Private Placement").

"The financing lets the company commit to an aggressive drill program at the 100% owned HSP nickel-copper sulphide project in Quebec" says Scott Sheldon, President of Go Metals.

Each Unit is comprised of one common share (each, a "Share") and one-half of one transferable Share purchase warrant (with two such half warrants being a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Share of the Company at a price of CAD$0.25 for a period of 24 months from the date of issuance. The FT Shares will qualify as flow-through shares for the purposes of the Income Tax Act (Canada).

Finder's fees of $92,533 cash, 62,000 Warrants which will entitle the holder to acquire one additional Share of the Company at a price of $0.25 for a period of twenty-four (24) months and 750,000 Warrants which will entitle the holder to acquire one additional Unit of the Company at a price of $0.125 for a period of twenty-four (24) months have been paid to qualified parties.

The gross proceeds of the Private Placement will be used to fund exploration expenditures on the HSP property and for general working capital.

Three insiders ("Insiders") of the Company participated in the Private Placement and have purchased either directly or indirectly an aggregate of 1,598,000 Units for gross proceeds of $199,750. The Private Placement is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 61-101") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company to be issued to the Insiders does not exceed 25% of its market capitalization.

All securities issued in connection with the Private Placement will be subject to a four-month hold period under securities laws.

None of the securities issued in connection with the private placement have been registered under the United States Securities Act of 1933, as amended (the "1933 Act"), and none of them have been offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would be unlawful.

About HSP Project

The HSP Project is an 82.5 km² property located approximately 120 km north of Havre-Saint-Pierre, Quebec. HSP contains several massive sulphide occurrences with elevated nickel, copper, cobalt, and PGE at surface. Mineralization is associated with six large EM anomalies suggesting multiple orebodies. A Quebec hydro road comes within 10 km of the Property.

About Go Metals:

Go Metals targets Canadian battery metal projects to help power a sustainable future. The company uses a proprietary suite of custom AI powered exploration tools to augment data sets.

For further information, please contact:

Scott Sheldon, President
604.725.1857
scott@gometals.ca

Forward-Looking Information:

This press release may include "forward-looking information" (as that term is defined by Canadian securities legislation), concerning the Company's business. Forward-looking information is based on certain key expectations and assumptions made by the Company's management, including future plans for the exploration and development of its mineral properties. Although the Company believes that such expectations and assumptions are reasonable, investors should not rely unduly on such forward-looking information as the Company can give no assurance they will prove to be correct. Forward-looking statements in this press release are made as of the date of this press release. The company disclaims any intent or obligation to publicly update any forward-looking information (whether as a result of new information, future events or results, or otherwise) other than as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116265