GéoMégA Announces Closing of Final Tranche of Oversubscribed Private Placement

Montreal, May 15, 2018 – Geomega Resources Inc. (“GéoMégA” or the “Corporation”) (TSX.V: GMA) is pleased to announce the closing of the second and final tranche (the “Second Tranche”) of its previously‐ announced non‐brokered private placement (the “Offering”) of Units (as herein defined) at $0.08 per Unit. Together with the first tranche, the Offering has resulted in aggregate proceeds of approximately $500,000. In order to accommodate demand, the Corporation has increased the size of the Offering by the maximum amount authorized by the TSX Venture Exchange (the “Exchange”).

Each Unit consisted of one common share (each a “Share”) and one‐half of one Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one additional common share at a price of $0.15 per Share for a period of twenty‐four (24) months from the closing date.

The offering is subject to receipt of regulatory approvals, including the final approval of the TSX Venture Exchange. The securities issued under the Second Tranche will have a hold period of four months and one day from their issue.

The Corporation intends to use the proceeds of the Offering for work on the technology developments and working capital purposes.

About GéoMégA (www.geomega.ca)

GéoMégA is a mineral exploration and evaluation company focused on the discovery and sustainable development of economic deposits of metals in Québec. GéoMégA is committed to meeting the Canadian mining industry standards and distinguishing itself with innovative engineering, stakeholders’ engagement and dedication to local transformation benefits.

For further information, please contact:

Kiril Mugerman
President and CEO
GéoMégA
450‐641‐5119 ext.5653
kmugerman@geomega.ca

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