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GMV Minerals closes bought deal private placement for US$7.56 million

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GMV Minerals Inc.

On October 27, 2010, GMV Minerals Inc. (TSX-V:GMV) announced that it had completed its previously announced bought deal private placement financing of units.Under the offering, the syndicate of underwriters led by Cormark Securities Inc. and including Max Capital Markets Ltd. purchased 16,800,000 Units (inclusive of Units purchased pursuant to the full exercise of the underwriters' over-allotment option) at a price of $0.45 per Unit for gross proceeds of $7,560,000. Each Unit is comprised of one common share of the company and one-half of one common share purchase warrant. Each whole Warrant shall be exercisable at any time for one Common Share at a price of $0.60 per Common Share for a period of 24 months following the closing date.GMV Minerals is a junior exploration company focused on the exploration and discovery of gold assets in Guyana, South America. The net proceeds of the offering will be for continued exploration and development of the company's exploration licenses in Guyana and for general working capital purposes. GMV Minerals was advised in this transaction by Fasken Martineau with a team that included Rubin Rapuch, Brad Freelan and Michael Shour.



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