Pure Energy Minerals Completes Final Tranche of Private Placement for Total Gross Proceeds of $5.5 Million
Pure Energy Minerals Completes Final Tranche of Private Placement for Total
Gross Proceeds of $5.5 Million
DENVER, Feb. 06, 2018 -- Pure Energy Minerals Limited (TSX-V:PE) (OTCQB:PEMIF) (the “Company” or “Pure Energy”)
announces that it has now completed the second tranche of the private placement offering announced on December 14, 2017.
The Company has issued an additional 5,820,000 Units priced at $0.40 per Unit for additional gross proceeds of $2,328,000.
The total number of Units issued from both tranches of the offering was 13,745,000 for total gross proceeds of $5,498,000.
Each Unit consists of one common share and one share purchase warrant, exercisable to acquire one common share for a
period of 36 months at a price of $0.55 per share, provided that if the closing price of the common shares on the Exchange is
equal to or greater than $1.10 per common share for a period of 20 consecutive trading days, the Issuer may accelerate the
expiry date of the Warrants by giving notice to the holders thereof, and in such case the Warrants will expire on the 30th day
after the date on which such notice is given by the Company. The shares, warrants, and any shares issued on exercise of the
warrants are subject to a 4-month hold period and may not be traded before June 7, 2018.
Canaccord Genuity Corp. acted as the lead agent and sole book runner for a syndicate of agents (the “Agents”) including Red
Cloud Klondike Strike Inc. and Beacon Securities Limited. In connection with the second tranche, the Company paid the
Agents a 2.0% cash commission of the aggregate proceeds. The Company also issued to the Agents warrants (the “Broker
Warrants”) associated with the second tranche, which are exercisable at any time from the Closing Date to the day prior to the
date that is 36 months from the Closing Date, to acquire in aggregate 116,400 common shares exercisable at the Issue Price.
The Broker Warrants and any shares issued on exercise of the Broker Warrants are subject to a 4-month hold period and may
not be traded before June 7, 2018.
The proceeds of the Offering will be used to advance the Company’s Clayton Valley and Terra Cotta Projects, as well as for
general corporate purposes.
About Pure Energy Minerals Limited
Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium
battery industry. The Company is developing the Clayton Valley Project (“ CV Project ”) in Clayton Valley, Nevada. The
Company is also exploring a major new lithium brine project in the Lithium Triangle of South America, the Terra Cotta Project
(“TCP”). The TCP is located on Pocitos Salar in Salta, Argentina, where it enjoys some of the best infrastructure and access
of any lithium brine exploration project in Argentina.
On behalf of the Board of Directors,
“Patrick Highsmith”
Chief Executive Officer
CONTACT:
Pure Energy Minerals Limited (www.pureenergyminerals.com)
Email: [email protected]
Telephone – 604 608 6611, ext 5
Cautionary Statements and Forward-Looking Information
The information in this news release contains forward looking statements that are subject to a number of known and unknown
risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward
looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets,
costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the
mining industry. Forward-looking statements in this release may include completion of the private placement and the amount
to be raised by the Company, and future exploration on the CV Project and the Terra Cotta Project. Although we believe the
expectations reflected in our forward looking statements are reasonable, results may vary, and we cannot guarantee future
results, levels of activity, performance or achievements.
The Company does not undertake to update any forward-looking information, except as required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the " U.S.
Securities Act "), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the
account or benefit of, U.S. persons (as defined under the U.S. Securities Act) absent registration or any applicable exemption
from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall
not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of
these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.