Enerev5 Metals Updates Brokered Private Placements and Engagement of Stockhouse
Enerev5 Metals Updates Brokered Private
Placements and Engagement of Stockhouse
Toronto, Ontario--(Newsfile Corp. - August 11, 2023) - Enerev5 Metals Inc. (TSXV: ENEV) (OTCQB:
ENEVF) ("Enerev5" or the "Company") updates its plan to raise $300,000 of flow through dollars to fund
the planned phase one geophysical survey and $250,000 of hard dollars for working capital and
administrative expenses the details of which are below.
Further to its press release of June 8, 2023, the Company plans to issue up to 5,000,000 hard dollar
units ("
Hard Dollar
Units
") at a price of $0.05 per unit ($250,000) and has revised the terms of the flow
through offering to up to 3,333,333 flow-through units ("
Flow-Through Units
") at a price of $0.09 per
unit ($300,000). Each Hard Dollar Unit consists of one common share of the Company and one common
share purchase warrant (a "
Warrant
"). Each Warrant will entitle the holder to acquire one additional
common share of the Company at a price of $0.05 for a period of five years from the date of issue. Each
Flow-Through Unit consists of one flow-through common share and one Warrant. The Hard Dollar Units
and Flow-Through Units are being offered on a brokered basis through IBK Capital Corp.(the "
Agent
").
The Company will pay the Agent a cash fee of 9% of the funds raised, and issue to the Agent warrants
equal to 10% of all Hard Dollar Units and Flow-Through Units issued in the form of non-transferable
broker warrants (the "
Broker Warrants
"). Each Broker Warrant entitles the holder to acquire one unit
("
Broker Units
") at a price of $0.05 for a period of five (5) years. Each Broker Unit consists of one
common share of the Company and one common share purchase warrant (a "Broker Unit
Warrant
").
Each Broker Unit Warrant will entitle the holder to acquire one additional common share of the Company
at a price of $0.05 for a period of five years from the date of issuance of the Broker Warrant. IBK Capital
Corp. is a "connected issuer" and "related issuer" of the Company, as defined in Canadian securities
legislation, by virtue of the ownership of securities of the Company by its directors and officers.
All securities issued in these offerings are subject to a 4-month hold period from the date of closing.
The Company also announces it has entered into a twelve-month marketing and consulting contract with
Stockhouse Publishing Ltd ("Stockhouse"), a division of The Market Herald, a leading source of
investment news, to assist and raise greater awareness of the Company and its flagship Barbara Bay
nickel project. Pursuant to the contract, Stockhouse will be paid an aggregate cash amount of $60,000
for its services and the Company will choose from a menu of standard and custom advertising and
marketing campaigns to reach targeted investor audiences. The Company has had no prior relationship
with Stockhouse. To the Company's knowledge, Stockhouse does not own or control, directly or
indirectly, any securities of the Company. As part of the arrangement, Stockhouse has agreed to
subscribe for $30,000 of the Company's Hard Dollar Units.
The marketing kickoff started with the release of a 5 minute video interview with the Company's
President and CEO, John O'Donnell, and Special Geophysical Advisor, Steve Balsh, discussing the
Barbara Bay Project. A link to the interview can be found here:
https://stockhouse.com/news/press-releases/2023/03/02/enerev5-metals-announces-new-brokered-
private-placements-and-update-on-its
About Enerev5 Metals Inc.
Enerev5 Metals Inc. (TSXV: ENEV) (OTCQB: ENEVF) is a Canadian resource company which has
been focusing on exploration and development potential, related to energy metals such as nickel,
copper, cobalt and other strategic battery minerals, as well as other net zero carbon related assets.
For more information on the Company, investors should review the Company's filings at
www.sedar.com
.
For additional information, please contact:
John F. O'Donnell
CEO and Chairman of the Board
Enerev5 Metals Inc.
Telephone: +1-647-966-3100
Website:
www.enerev5.com
Forward-Looking Statements
This release includes certain statements that may be deemed "forward-looking statements". All
statements in this release, other than statements of historical facts, that address future activities and
events or developments that the Company expects are forward-looking statements. .Such statements
include those regarding the planned exploration program and the proposed financing including the
success and timing thereof. Although the Company believes the expectations expressed in such
statements are based on reasonable assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially from those in the statements.
There are certain factors that could cause actual results to differ materially from those in forward-
looking statements. These include market prices, exploitation, and exploration successes, continued
availability of capital and financing, and general economic, market or business conditions, including
the continuing effects of the COVID pandemic and the situation in Ukraine. Investors are cautioned
that any such statements are not guarantees of future performance and actual results or
developments may differ materially from those projected in the forward-looking statements. For more
information on the Company, investors should review registered filings at
www.sedar.com
or on its
website at
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.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR
DISSEMINATION IN THE U.S.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/176896