Geovic Mining Corp. (TSX:GMC) announced that it entered into a note purchase agreement for a private placement of promissory notes for gross proceeds of $120,000 on September 30, 2013. The note matures on September 30, 2014. Interest accrues on the outstanding principal balance of each note at the rate of 200% per annum. The notes are subscribed by Richard G. Buckovic, Norman C. Rose and M N Rose Credit Shelter Trust. The company issued the securities pursuant to exemption provided under Regulation D. The minimum investment accepted from any outside investor is $20,000. The company may prepay each note, in whole or in part and without penalty, at any time upon 30 calendar days' prior written notice to the lender. The company is required to prepay each note, in whole but not in part and without penalty, within five business days following the consummation of the previously announced acquisition by Jiangxi Rare Metals Tungsten Holdings Group Company Ltd of the company's 60.5% interest in Geovic Cameroon, PLC. The company expected to receive $1,500,000 in the funding.

On September 30, 2013, Geovic Mining Corp. closed the transaction.