Geomega Resources Inc. (“Geomega”) announced the grant of a $750,000 loan (the “Loan”) by SIDEX, Limited Partnership (“Sidex”) on May 10, 2013. The Loan is secured by Geomega’s tax credits receivable from Revenu Québec for the fiscal year ended in 2012 and related to mineral exploration. In connection with the Loan, Geomega issued 250,000 common shares to Sidex. The proceeds will be allocated to general and administrative purposes.
Geomega, which owns 100% of the Montviel Rare Earths/Niobium project, is a Québec mineral exploration and development company focused on the discovery and sustainable development of economic deposits of minor metals, such as Rare Earth Elements, Niobium and Graphite, in Québec. Geomega is committed to meeting Canadian mining industry standards and distinguishing itself with its expertise, know-how and its support and respect for local communities and the environment.