African Energy Closes Third Tranche of Private Placement
African Energy Metals Inc. Suite 401, 750 West Pender Street, Vancouver, B.C., Canada, V6C 2T7 1
AFRICAN ENERGY CLOSES THIRD TRANCHE OF PRIVATE PLACEMENT
Vancouver, British Columbia - (December 29, 2022) – African Energy Metals Inc. (TSXV: CUCO; FSE:
BC2; OTCQB: NDENF) (“ African Energy Metals” or the “ Company ”) announces that, further to its
press releases of September 13, 2022, October 24, 2022, November 23, 2022 and December 16, 2022, the
Company has closed the third tranche of its non-brokered private placement (the “ Financing ”) of 3,000,000
units (each a “ Unit ”) at a price of CAD $0.05 per Unit for aggregate proceeds of CAD $150,000. Each Unit
consists of one common share of the Company (a “ Share ”) and one-half of one common share purchase
warrant (with two half warrants being a “ Warrant ”). Each Warrant entitles the holder thereof to acq uire
one additional common share in the capital of the C ompany (a “Warrant Share”) at a price of $0.10 per
Warrant Share at any time prior to 5:00 p.m. (Vanco uver time) on the date (the “Expiry Date”) that is 24
months following the Closing Date.
The proceeds from the Financing will be used for du e diligence on prospective projects and for general
working capital purposes. No finder’s fees were pa id in connection with the third tranche. All securi ties
issued pursuant to the Financing are subject to a s tatutory four-month and one day hold period from th e
date of issuance under applicable securities laws of Canada.
About African Energy Metals
African Energy Metals is a natural resource company with a focus on the acquisition, exploration,
development, and operation of copper, cobalt, and l ithium energy metals projects in the DRC. African
Energy Metals has the intention of acquiring interests in additional concessions or relinquishing concessions
in the normal course of business both in and outside of the DRC. African Energy Metals has an experienced
management team located in the DRC.
For further information, please contact:
Stephen Barley, Executive Chairman
Phone: (604- 834-2968
Email: [email protected]
Website: www.africanenergymetals.com
Reader Advisory
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain “forward-looking information” within the meaning of applicable securities laws. Although
the Company believes, considering the experience of its officers and directors, current conditions and expected future
developments and other factors that have been consi dered appropriate, that the expectations reflected in this forward-
looking information are reasonable, undue reliance should not be placed on them as the Company can give no assurance
that they will prove to be correct including the cl osing of the private placement. The statements in t his press release are
made as of the date of this release. The Company u ndertakes no obligation to comment on analyses, exp ectations or
statements made by third parties in respect of the Company its securities, or its financial or operati ng results.