Enerev5 Metals Inc. Announces Closing of $130,000 Final Tranche Non-Brokered Private Placement

Executive Summary

• Enerev5 Metals Inc. closed the second and final tranche of its non‑brokered private placement, issuing 13 million units at $0.01 per unit for gross proceeds of $130,000.
• Each unit consists of one common share and one warrant exercisable at $0.05 per share for five years; a commission of $10,400 and 1.3 million broker warrants were also issued as compensation to finders.
• The acquisition by Russell Fromm increased his ownership to approximately 11.65% of the outstanding shares (undiluted) and 14.69% on a partially diluted basis.

Key Details

• Units sold – Second Tranche: 13,000,000 units @ $0.01 each → $130,000 gross proceeds.
• Unit composition: 1 common share + 1 warrant (exercise price $0.05, five‑year term).
• First Tranche reference: 31,500,000 units sold for $315,000 (provides context of total offering size).
• Use of proceeds: General corporate and working capital purposes, project review and acquisition costs.
• Commission paid to finders: $10,400 plus 1,300,000 non‑transferable broker warrants (price $0.05 per warrant) for “Broker Units” with identical terms to the offering units.
• Regulatory conditions: Closing subject to TSX Venture Exchange approval; all securities subject to a statutory hold period of four months and one day.
• Acquisition by Russell Fromm:
• Acquired 10,500,000 shares and 10,500,000 warrants.
• Pre‑acquisition holdings: 27,184,000 shares (≈8.76% undiluted) and 1,000,000 warrants (≈9.05% partially diluted).
• Post‑acquisition holdings: 37,684,000 shares (≈11.65% undiluted) and 11,500,000 warrants (≈14.69% partially diluted).
• Early Warning Report: Filed in accordance with NI 62‑104/62‑103; available on SEDAR+.

Notable Quotes

(No direct quotes were included in the release.)