Vancouver, British Columbia – New Energy Metals Corp. (TSXV: ENRG) (OTC Pink: NEMCF) (the “Company”) announces that the Company has completed a non-brokered private placement financing (the “Offering”) of 2,000,000 units (the “Units”) at price of $0.05 per unit for gross proceeds of $100,000. Each unit consists of one common share in the capital of the Company and one common share purchase warrant (a “warrant”), each warrant entitling its holder to purchase one common share in the capital of the Company for a period of 24 months. at an exercise price of $0.10 per share.
The Company has not paid any finder’s fee in connection with the Offer. All securities issued under the Offer are subject to a hold period of four months and one day in Canada, a period during which the securities cannot be traded. The Offering is subject to the approval of the TSXV and other regulatory agencies.
Certain insiders of the Company have subscribed $41,000 units in the placement, i.e. 820,000 units. Each of these transactions constitutes a “related party transaction” as defined in National Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company relies on exemptions from the formal valuation and minority approval requirements under NI 61-101, and in particular, sections 5.5(a) and 5.7(1)(a) of NI 61- 101, as fair market value of transactions do not exceed 25% of the Company’s market capitalization.
The Company expects to use the net proceeds of the Offering for general corporate purposes, including the settlement of certain outstanding accounts payable.
None of the securities referenced in this press release have been or will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities law. transferable and may not be offered or sold in United States or to, or for the account or for the benefit of, WE persons (as defined in Regulation S of the 1933 Act) or persons United States the absence of registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of the aforementioned securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About the company
New energy metals focuses on the exploration and development of energy metals.
Such. : 778-510-5757
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of Canadian law and WE securities law, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts included herein, including anticipated business plans and schedules of future activities of the Company, are forward-looking statements. Although the Company believes these statements to be reasonable, it cannot guarantee that these expectations will prove to be correct. Forward-looking statements are generally identified by words such as “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “potential”, “expected”, or variations of such words and similar phrases and expressions, which by their nature refer to future events or results which may, may, might, might or will occur or be taken or achieved.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the statements. prospective. These risks and other factors include, among others: additional capital requirements; future prices of precious metals, copper and lithium; changes in general economic conditions; changes in financial markets and in the market demand and price of commodities; other risks of the mining industry; failure to obtain necessary governmental and regulatory approvals; changes in laws, regulations and policies affecting mining operations; hedging practices; currency fluctuations; as well as the factors discussed under “Risks and Uncertainties” in the Company’s most recent MD&A and other documents filed by the Company with the Canadian Securities Administrators, copies of which may be viewed under profile of the Company on the SEDAR website at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. Except as otherwise required by law, the Company undertakes no obligation to update any forward-looking statements contained in this press release or incorporated by reference herein.