New Energy Metals Announces Private Placement
New Energy Metals Announces Private
Placement
Vancouver, British Columbia--(Newsfile Corp. - January 5, 2023) -
New Energy Metals Corp.
(
TSXV:
ENRG
) (
OTC Pink: NEMCF
)
(
"
New Energy
" or the "
Company
"
)
is pleased to announce a non-
brokered private placement (the "
Offering
") of up to 4,000,000 units (each, a "
Unit
") at a price of $0.25
per Unit for gross proceeds of up to $1,000,000. Each Unit consists of one common share in the capital
of the Company (each, a "
Share
") and one-half of one common share purchase warrant (each whole
warrant, a "
Warrant
"). Each Warrant entitles the holder to acquire one Share at a price of $0.50 per
Share for a period of twenty four months from the date of closing of the Offering.
In the event that the Shares trade at a price of $1.00 for ten (10) consecutive trading days, the Company
may, at its option, accelerate the Warrant expiry date by providing notice (the "
Acceleration Notice
") to
the Warrant holders by way of a news release that the Warrants will expire on the 30
th
day from the date
of the Acceleration Notice.
The Company may pay finder's fees on a portion of the Offering in accordance with applicable securities
laws and the policies of the TSX Venture Exchange (the "
Exchange
").
The net proceeds from the Offering will be used to fund exploration, acquisitions as well as working
capital and other general corporate purposes.
The closing of the Offering will be subject to certain conditions including, but not limited to, receipt of all
necessary approvals including the approval of the Exchange. All securities to be issued pursuant to the
Offering will be subject to a four month and one day hold period in accordance with applicable Canadian
securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in the United States. The securities offered 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
laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S.
persons unless registered under the U.S. Securities Act and applicable state securities laws, unless an
exemption from such registration is available.
ON BEHALF OF THE BOARD OF DIRECTORS,
New Energy Metals Corp.
Rishi Kwatra
CEO & Director
#2710 - 200 Granville Street
Vancouver, BC V6C 1S4, Canada
Tel: 778.510.5757
www.new-enrg.com
About New Energy Metals Corp.
New Energy Metals is listed on the TSX Venture Exchange under the symbol ENRG and is a Canadian-
based resource company. The Company has an option to purchase a 100% title and interest in the
Roslyn Lithium property, covering 5,100 hectares located 20 km southeast of the Georgia Lake
Pegmatite Field and 35 km southeast of where Rock Tech Lithium just published a PEA supporting the
indicated mineral resource of 10.6 Mt (million tonnes) grading 0.88% Li2O and an inferred mineral
resource of 4.2 Mt grading 1.0% Li2O. It also has an option to purchase a 100% title and interest in the
Troitsa property covering approximately 7,000 hectares located in the Omineca Mining Division of
British Columbia.
Neither the TSX Venture Exchange nor its Regulation Service provided (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Forward-Looking Statement
This news release may contain certain "forward-looking statements" such as the anticipated closing of
the Private Placement, the use of proceeds thereof, and the intention to focus on the exploration and
development of lithium and copper properties in the future. Forward-looking statements involve known
and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results,
performance, or achievements of the Company to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking statements, including but
not limited to: risks related to inability to close the Private Placement for any reason; downturn in the
capital markets and the mining industry in general; economic risks related to recession and inflation,
and the risks identified in the Company's periodic reports filed on SEDAR. Any forward-looking
statement speaks only as of the date of this news release and, except as may be required by
applicable securities laws, the Company disclaims any intent or obligation to update any forward-
looking statement, whether as a result of new information, future events or results or otherwise.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/150410