European Energy Metals Announces Increase to Private Placement
European Energy Metals Announces Increase
to Private Placement
Vancouver, British Columbia--(Newsfile Corp. - August 30, 2024) - European Energy Metals (TSXV:
FIN) (FSE: W28) ("
European Energy Metals
" or the "
Company
") is pleased to announce that it is
increasing its previously announced non-brokered private placement from 16,000,000 units ("
Units
") to
up to 17,600,000 Units. Each Unit will be issued at a price of $0.125 per Unit to raise gross proceeds of
up to $2,200,000 (the "
Private Placement
"). Each Unit will consist of one common share of the
Company and one half of a common share purchase warrant (each whole warrant, a "
Warrant
"). Each
Warrant will entitle the holder to acquire one additional common share at an exercise price of $0.20 for a
period of two years following closing of the Private Placement.
The Company may pay finder's fees on all or a portion of the Private Placement. The Company intends
to use the net proceeds of the Private Placement for exploration work on its properties and for working
capital. Completion of the Private Placement remains subject to the approval of the TSX Venture
Exchange.
About European Energy Metals Corp.
European Energy Metals Corp. is a junior mining company currently focussed on the Lithium-Cesium-
Tantalum Finnish Pegmatite Project in central Finland. Governing bodies in Europe and Finland are
legislating environmentally friendly and energy independent laws and policies. One of the key
components is access to REE and, specifically, lithium. The Company's concessions are located within
15 kms of the Keliber mine and production complex, currently under construction and expected to begin
production in H2 2025.
The Company cautions the presence of lithium mineralization on Keliber's
properties is not necessarily indicative of similar mineralization on the Company's mineral reservations.
An estimated €600 million investment by Keliber's parent company Sibanye-Stillwater Limited
(NYSE
:
SBSW) in partnership with the Finnish Minerals Group (
www.mineralsgroup.fi
) is underway in the
Kautinen Region and will see the development of open-pit and underground mining from several
deposits, construction of a central spodumene concentrator plant and a lithium hydroxide chemical plant
at tidewater in Kokkola.
When completed, this complex will comprise a complete hard-rock spodumene
pegmatite lithium supply chain (source:
www.sibanyestillwater.com
).
FOR FURTHER INFORMATION PLEASE CONTACT:
Jeremy Poirier, CEO
Telephone: 604-722-9842
Email:
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.
Cautionary Statements Regarding Forward Looking Information
This news release contains forward-looking information within the meaning of applicable securities
legislation. Forward-looking information is typically identified by words such as: believe, expect,
anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature,
refer to future events. Such statements include, without limitation, statements regarding the regarding
completion of the Private Placement, the use of proceeds of the Private Placement, future results of
operations, performance and achievements of the Company, including the presence of lithium
mineralization at, and the
exploration and development potential of, the Finnish Pegmatite. Although
the Company believes that such statements are reasonable, it can give no assurances that such
expectations will prove to be correct. All such forward-looking information is based on certain
assumptions and analyses made by the Company in light of their experience and perception of
historical trends, current conditions and expected future developments, as well as other factors
management believes are appropriate in the circumstances. This information, however, is subject to a
variety of risks and uncertainties and other factors that could cause actual events or results to differ
materially from those projected in the forward-looking information. Important factors that could cause
actual results to differ from this forward-looking information include the Company's ability to find
suitable investors for the Private Placement or to obtain the approval of the TSX Venture Exchange,
management's discretion to reallocate the proceeds of the Private Placement as well as risks inherent
in exploration as well as those described under the heading "Risks and Uncertainties" in the
Company's most recently filed MD&A. The Company does not intend, and expressly disclaims any
obligation to, update or revise the forward-looking information contained in this news release, except
as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/221707