Electric Metals (USA) Limited Closes $1.1 Million Non-Brokered Private Placement
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Electric Metals (USA) Limited Closes $1.1 Million Non-Brokered Private Placement
Not for distribution to U.S. news wire services or dissemination in the United States
Toronto, Ontario, May 20, 2025: Electric Metals (USA) Limited ("EML" or the "Company") (TSXV: EML)
(OTCQB: EMUSF) is pleased to announce the closing of its previously announced non -brokered private
placement, raising gross proceeds of C$1,091,999 million. The financing will support the advancement of
the Company’s Emily Manganese Project in Minnesota, contributing to a critical U.S. domestic supply of
high-purity manganese products, including high-purity manganese sulfate monohydrate (HPMSM), for the
U.S. electric vehicle battery sector.
Under the Offering, the Company issued 9,099,999 units (the “Units”) at a price of C$0.12 per Unit. Each
Unit consists of one common share of the Company (a “Share”) and one -half of one non -transferable
common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to
acquire one additional Share at an exercise price of C$0.20 for a period of 18 months. The Shares and any
Shares issued upon exercise of the Warrants are subject to applicable hold periods in accordance with
securities laws and exchange policies. No insiders participated in the Offering.
"This financing, together with our recent fundraising , positions Electric Metals in a strong position to
advance the Emily Manganese Project in Minnesota and support the development of a secure, U.S.
domestic supply of high-purity manganese products," said Brian Savage, CEO of Electric Metals.
Net proceeds will be used to advance key initiatives, including the preliminary economic assessment of
the Emily Manganese Project, technical and environmental studies , studies related to the planned high-
purity manganese sulfate monohydrate (HPMSM) facility, and for general working capital purposes.
In connection with the the Offering, the Company paid finders who introduced subscribers to the Offering
including: Canaccord Genuity Corp. a cash commission totaling $3,300 being up to 1% of the gross
proceeds raised under the Offering from investors introduced to the Company from such finders , and
27,500 non-transferable common share purchase warrants of the Company (“Finders’ Warrants”), being
up to 1% of the Units sold under the Offering from investors introduced to the Company from such finders.
Each Finder’s Warrant entitles the holder to purchase one Common Share at a price of $0.20 for a period
of 18 months.
About Electric Metals (USA) Limited
Electric Metals (USA) Limited (TSXV: EML) (OTCQB: EMUSF) is a US-based mineral development company
with manganese and silver projects geared to supporting the transition to clean energy. The Company's
principal asset is the Emily Manganese Project in Minnesota , the highest-grade manganese deposit in
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North America, which has been the subject of considerable technical studies , including National
Instrument 43-101 Technical Reports – Resource Estimates. The Company's mission in Minnesota is to
become a domestic U S producer of high-value, high-purity manganese metal and chemical products to
supply the North American electric vehicle battery, technology and industrial markets. With manganese
playing a critical and prominent role in lithium -ion battery formulations, and with no current domestic
supply or active mines for manganese in North America, the development of the Emily Manganese Project
represents a significant opportunity for America, the State of Minnesota and fo r the Company 's
shareholders.
For further information, please contact:
Electric Metals (USA) Limited
Brian Savage
CEO & Director
(303) 656-9197
or
Valerie Kimball
Director Investor Relations
720-933-1150
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively,
"forward-looking information") within the meaning of applicable securities laws. Forward -looking
information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates,"
"intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative
of such expressions.
Such statements in this news release include, without limitation: the Company's mission to become a
domestic US producer of high -value, high-purity manganese metal and chemical products to supply the
North American electric vehicle battery, technology and industrial markets; that manganese will continue
to play a critical and promin ent role in lithium -ion battery formulations; that with no current domestic
supply or active mines for manganese in North America, the development of the Emily Manganese Project
represents a significant opportunity for America, Minnesota and for the Company 's shareholders; and
planned or potential developments in ongoing work by Electric Metals.
These statements address future events and conditions and so involve inherent risks, uncertainties and
other factors that could cause actual events or results to differ materially from estimated or anticipated
events or results implied or expressed in such forward-looking statements. Such risks include, but are not
limited to, the failure to obtain all necessary stock exchange and regulatory approvals; investor interest in
participating in the Offering; and risks related to the exploration and other plans of the Company. Forward-
looking information is based on the reasonable assumptions, estimates, analysis and opinions of
management made in light of its experience and perception of trends, updated conditions and expected
developments, and other factors that management believes are relevant and reasonable in the
circumstances at the date such statements are made. Although the Company has attempted to identify
important factors that could cause actual results to differ materially from those contained in forward -
looking information, there may be other factors that cause results not to be as anticipated. There can be
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no assurance that such information will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information. Accordingly, readers should not place undue
reliance on forward-looking information.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the
Company disclaims any obligation to revise or update any such forward-looking information or to publicly
announce the result of any revisions to any of the forward-looking information contained herein to reflect
future results, events, or developments, except as required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.