Enerev5 Metals arranges $400,000 private placement

Executive Summary

• Enerev5 Metals Inc. announced a non-brokered private placement of up to 40 million units at $0.01 per unit, raising up to $400,000 in gross proceeds.
• The company also announced a securities-for-debt transaction to settle up to $105,500 in liabilities by issuing up to 10,555,000 units at $0.01 per unit.
• Proceeds from the private placement will be used for general corporate and working capital purposes, as well as project review and acquisition costs.

Key Details

• Private Placement Structure: Up to 40,000,000 units offered at $0.01 per unit.
• Gross Proceeds: Up to $400,000.
• Warrant Terms: Each unit includes one share purchase warrant, exercisable at $0.05 per share for a period of five years following closing.
• Use of Proceeds: General corporate and working capital purposes, and project review and acquisition costs.
• Securities-for-Debt Transaction: Settlement of up to $105,500 in liabilities through the issuance of up to 10,555,000 units at $0.01 per unit.
• Insider Participation: Insiders may participate, but total participation is capped at 25% of the offering.
• Finder’s Commission: The company may pay commissions to eligible finders, subject to exchange approval.
• Regulatory Conditions: Completion is subject to customary closing conditions, including exchange approval.
• Hold Period: All securities issued are subject to a statutory hold period of four months and one day under Canadian securities laws.

Notable Quotes

• None provided in the text.