(ii) On April 18, 2016, the Company announced a non-br okered private placement (t he "Offering") pursuant to which it will issue up to 25,000,000 common shares ("Shares") at a price of $0.15 per Share to raise aggregate gross proceeds of up to approximately $3, 750,000. In connection with the Offering, GPM may pay a finder's fee to certain qualified registrants a ssisting in the Offering in the amount equal to 5% of the gross proceeds raised by such finders, and iss ue such number of broker warrants ("Broker Warrants") to such finders as is equal to 5% of the number of shares placed by such finders. Each Broker Warrant will entitle the holder thereof to acquire one Share at an exercise price of $0.15 for a period of 12 months. Insiders of the Company may subscribe for up to 15,000,000 Shares in the Offering. (iii) During April 2016, the agreement for the sale of the previously owned Peters and Aremu properties was amended to extend the payment terms of the $300,000 which was due on or prior to March 30, 2016. The amended payment terms are as follows: $200,000 paya ble by April 30, 2016 ( paid) and $100,000 payable by May 31, 2016. (iv) On April 22, 2016, Goldeye Explorations Limited (“Goldeye”) issued a press release asserting their belief that they should be a 50/50 participant in the East Block claims. In the original agreement Goldeye was to make a payment at the end of September 2015. As this payment was not made by Goldeye, it is management’s view that the terms of the original agreement were not complied with and as a result, the additional interests (the 1,400 claims) would not be part of this agreement. (v) On April 29, 2016, GPM announced that it has am ended the terms of its Offering that was announced on April 18, 2016 (see (ii) above), which will now consist of up to 25,000,000 special warrants (“Special Warrants”) at a price of $0.15 per Special Warrant to raise aggregate gross proceeds of up to $3,750,000. Each Special Warrant will automatically convert into one common share of the Company without any additional payment or action by the holder on the date which is four months following the closing of the Offering. The Offering remains subject to the receipt of all regulatory approvals. The gross proceeds of the Offering will be released to the Company upon closing. Page 6 GPM Metals Inc. Interim Management’s Discussion & Analysis – Quarterly Highlights Three Months Ended March 31, 2016 Discussion dated: May 27, 2016 Subscribers in the Offering will not be entitled to part icipate in the previously announced distribution of the common shares of Lago which the Company proposes to effect in connection with its sale to Lago of its property interests in the Project. Insiders of the Company may acquire up to 15,000,000 Special Warrants in the Offering. All other terms of the Offering remain as previously announced by the Company on April 18, 2016 (see (ii) above). (vi) On May 2, 2016, GPM announced that it has increa sed the size of its Offering, which will now consist of up to 28,333,333 Special Warrants at a price of $0.15 per Special Warrant to raise aggregate gross proceeds of up to $4,250,000. All other terms of t he Offering remain as previously announced by the Company on April 18, 2016 and April 29, 2016. T he offering closed successfully on May 20, 2016 having raised aggregate gross proceeds of $4,250,000.