New Energy Announces Private Placement with Strategic Investors
NEW ENERGY ANNOUNCES PRIVATE PLACEMENT WITH
STRATEGIC INVESTORS
Vancouver, British Columbia – October 18, 2024 – New Energy Metals Corp. (TSXV: ENRG) (OTCQB:
NRGYF) (“New Energy ” or the “ Company“) is pleased to announce that it has arranged a non -
brokered private placement with arm’s length strategic investors consisting of 2,857,143 units (the
“Units”) of the Company at a price of $0.35 per unit for gross proceeds of $1,000,000 (the “Offering”).
The Offering includes an over -allotment option that could increase the total gross proceeds
to $1,200,000. Each Unit consists of one common share (each, a “Common Share”) of the Company
and one -half of one transferable Common Share purchase warrant (each whole Common Share
purchase warrant, a “ Warrant”), with each Warrant exercisable for one Common Share (each a
"Warrant Share ") at a price of $ 0.75 per Warrant Share for a period of twelve months from the
closing of the Offering subject to the following acceleration provision:
If, at any time after the date of issuance of the Warrant, the closing price of the Company’s common
shares on the TSX Venture Exchange (the " TSXV") (or such other stock exchange on which the
common shares may be traded from time to time) is at or above $ 1.10 per share for a period of 10
consecutive trading days (the “Triggering Event”), in which event the Company may, within 5 days of
the Triggering Event, accelerate the expiry date of the Warrants by giving notice thereof to the
holders of the Warrants, by way of a news release, and in such case, the Warrants will expire on the
day that is 30 calendar days after the date on which such notice is given by the Company announcing
the Triggering Event , and all rights of holders of such Warrants shall be terminated without any
compensation to such holder.
Proceeds from the Offering are expected to be used for general corporate obligations and working
capital purposes.
The closing of the Offering is subject to certain conditions, including, but not limited to, the approval
of the TSXV.
All securities issued under the Offering will be subject to a hold period of four months and one day
in Canada from the Closing of the Offering in accordance with the rules and policies of the TSXV and
applicable Canadian securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the
securities in the United States. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act ") or any state securities
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laws and may not be offered or sold within the United States or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
ON BEHALF OF THE BOARD OF DIRECTORS,
New Energy Metals Corp.
Kenneth Kaczkowski
Chief Executive Officer
Tel: 305-280-4161
www.new-enrg.com
About New Energy Metals Corp.
New Energy Metals Corp. is a Canadian-based resource company listed on the TSX Venture Exchange
under the symbol “ENRG”. The Company has an option to purchase a 100% interest in the Troitsa
Copper property covering approximately 7,000 hectares located in the Omineca Mining Division of
British Columbia.
Neither the TSX Venture Exchange nor its Regulation Servic es Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release includes certain statements and information that may constitute forward -looking
information within the meaning of applicable Canadian securities laws. Forward -looking statements
relate to future events or future performance and reflect th e expectations or beliefs of management
of the Company regarding future events. Generally, forward-looking statements and information can
be identified by the use of forward -looking terminology such as “intends” or “anticipates”, or
variations of such word s and phrases or statements that certain actions, events or results “may”,
“could”, “should”, “would” or “occur”. This information and these statements, referred to herein as
“forward‐looking statements”, are not historical facts, are made as of the date o f this news release
and include without limitation, statements regarding discussions of future plans, estimates and
forecasts and statements as to management’s expectations and intentions with respect to, among
other things, the closing of the Offering and use of the proceeds raised under the Offering.
These forward‐looking statements involve numerous risks and uncertainties and actual results might
differ materially from results suggested in any forward -looking statements. These risks and
uncertainties include, among other things, market uncertainty and that the Company will not close
the Offering or use the proceeds of the Offering as currently anticipated. In making the forward-
looking statements in this news release, the Company has applied several material assumptions,
including without limitation, t hat the Company will close the Offering and use the proceeds of
the Offering as currently anticipated. Although management of the Company has attempted to
identify important factors that could cause actual results to differ materially from those contained in
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forward-looking statements or forward -looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking statements and forward-looking information. Readers are cautioned that reliance on
such information may not b e appropriate for other purposes. The Company does not undertake to
update any forward -looking statement, forward -looking information or financial out -look that are
incorporated by reference herein, except in accordance with applicable securities laws.