Financings
New Energy Metals closes $50,040 financing
ENRG · Price
Executive Summary
- New Energy Metals Corp. closed a non‑brokered private placement of 278,000 units at $0.18 per unit, generating gross proceeds of $50,040.
- Each unit includes one common share and one transferable warrant allowing purchase of an additional share at $0.25 for two years.
- Net proceeds will be used for general working capital; securities are subject to a four‑month‑plus hold period and pending TSX Venture Exchange final approval.
Key Details
- Units sold: 278,000 units (each = 1 common share + 1 transferable warrant).
- Price per unit: $0.18.
- Gross proceeds: $50,040.
- Warrant terms: Right to purchase one additional common share at $0.25 per share; exercisable for two years from issuance.
- Use of proceeds: General working capital purposes.
- Statutory hold period: Four months and one day from the date of issuance, per securities law requirements.
- Regulatory condition: Offering remains subject to final approval by the TSX Venture Exchange.
Notable Quotes
(No executive quotes were provided in the release.)