Enerev5 Metals Completes Final Tranche of Private Placement
Enerev5 Metals Completes Final Tranche of
Private Placement
Toronto, Ontario--(Newsfile Corp. - July 11, 2022) - Enerev5 Metals Inc. (TSXV: ENEV) (OTCQB:
ENEVF) (the "Company") announces that it has completed the final tranche of its previously announced
brokered private placement of units ("
Units
"), raising gross proceeds of $36,280 from the sale of
725,600 Units at a price of $0.05 per unit. Each Unit consisted of one common share of the Company
and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one
additional common share of the Company at a price of $0.10 for a period of two years from the date of
issue. The Company paid the placement agent, IBK Capital Corp., a cash fee of $3,265, and issued to
the placement agent 72,560 non-transferable broker warrants (the "
Broker Warrants
") in connection
with the completion of the final tranche. Each Broker Warrant entitles the holder to acquire one Unit of the
Company (having the same terms as those issued in the final tranche) at a price of $0.05 for a period of
2 years from date of issuance.
The Company issued
an aggregate of 5,035,600 Units in all tranches of the private placement raising
aggregate gross proceeds of $251,780. Net proceeds from the private placement will be used for
working capital and other general corporate purposes. All securities issued in the private placement are
subject to a 4-month hold period.
About Enerev5 Metals Inc.
Enerev5 Metals Inc. (TSXV: ENEV) (OTCQB:ENEVF) is a Canadian resource company focusing on
exploration and development potential, in Africa and other global jurisdictions, related to energy
metals such as cobalt, copper and other strategic battery minerals, as well as other net zero related
assets. ENEV is committed to exploration and development programs contributing towards net zero
carbon and a sustainable energy future.
For more information on the Company, investors should review the Company's filings at
www.sedar.com
.
For additional information, please contact:
Peter Copetti
Executive Chairman and CEO
Enerev5 Metals Inc.
Telephone: +1-416-519-4009
Email:
Website:
www.enerev5.com
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.
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https://www.newsfilecorp.com/release/130555