Power Metals Announces $2 Million Flow-Through Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION
IN THE UNITED STATES
Power Metals Announces $2 Million Flow-Through Private Placement
VANCOUVER, BRITISH COLUMBIA, May 30 , 201 8 – Power Metals Corp . (“ Power Metals ” or the
“Company”) ( TSXV: PWM) ( FRANKFURT: OAA1) (OTC: PWRMF) is pleased to announce that it has
entered into a letter of engagement with Eight Capital as lead agent (the “Agent”), under which Eight Capital has
agreed to offer for sale flow-through units of the Company (the “Units”), on a “best effort s” private placement basis,
subject to all required regulatory approva ls, at a price per Unit of $0.58 (the “Offering Price”), for tota l gross
proceeds of up to approximately $2,000,000 (the “Offering”). Each Unit shall consist of one flow-through common
share of the Company (a “Share”) and one-half of one common share purchase warrant (a “Warrant”). Each Warrant
shall entitle the holder thereof to acquire one common share of the Company at a price of $ 0.85 for a period of 24
months following the Closing Date.
The Company has granted Eight Capital an over-allotment option to purchase up to an additional 15% of Units at the
Offering Price , exercisable in whole or in part , at any time on or prior to 48 hours prior to the closing of the
Offering. If this option is exercised in full, an additional $300,000 will be raised pursuant to the Offering and the
aggregate proceeds of the Offering will be up to approximately $2,300,000.
The Company intends to use the n et proceeds of the Offering for its upcoming drill program at the Case Lake
Property, and for working capital and general corporate purposes.
The closing date of the Offering is scheduled to be on or before June 21, 2018 and is subject to certain conditions
including, but not limited to, the receipt of all necessary approvals , including the approval of the TSX Venture
Exchange and the applicable securities regulatory authorities.
The Units will be offered by way of a private placement pursuant to exemptions from the prospectus requirements in
Canada. All securities issued under the Offering will be subject to a statutory hold period in Canada expiring four
months and one day from the Closing Date.
As consideration for its services, Eight Capital will receive a cash commission equal to 6% of the gross proceeds of
the Offering. The Company will also issue to Eight Capital compensation warrants in an amount equal to 6% of the
number of Units sold pursuant to the Offering. Each compensation warrant will be exercisable into a unit comprised
of one common share and one-half of one Warrant.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale
of the securities in any State in which such offer, solicitation or sale would be unlawful. The securities being offered
have not been, nor will they be, registered under the United States Securities Act of 1933 , as amended, and may not
be offered or sold in the United States absent registration or an applicable exemption from the registration
requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.
About Power Metals Corp.
Power Metals Corp. is a diversified Canadian mining company with a mandate to explore, develop and acquire high
quality mining projects. We are committed to buildi ng an arsenal of projects in both lithium and high -growth
specialty metals and minerals. We see an unprecedented opportunity to supply the tremendous growth of the lithium
battery and clean-technology industries. Learn more at www.powermetalscorp.com
ON BEHALF OF THE BOARD,
Johnathan More, Chairman & Director
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the
content of this news release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The
securities being 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 in the United
States, or to, or for the account or benefit of, a "U.S. person" (as defined in Regulation S of the U.S. Securities Act)
unless pursuant to an exemption therefrom. This press release is for information purposes only and doe s not
constitute an offer to sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction.
FORWARD LOOKING INFORMATION
This press release contains forward -looking information based on current expectations , including the com pletion of
the Offering. These statements should not be read as guarantees of future performance or results. Such statements
involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or
achievements to be m aterially different from those implied by such statements. Although such statements are based
on manag ement's reasonable assumptions, Power Metals assumes no responsibility to update or revise forward -
looking information to reflect new events or circumstances unless required by law.
Although the Company believes that the expectations and assumptions on which the forward -looking statements are
based are reasonable, undue reliance should not be placed on the forward -looking statements because the Company
can give no assurance that they will prove to be correct. Since forward -looking statements address future events and
conditions, by their very nature they involve inherent risks and uncertainties. These statements speak only as of the
date of this press relea se. Actual results could differ materially from those currently anticipated due to several
factors and risks including various risk factors discussed in the Company's disclosure documents which can be
found under the Company's profile on www.sedar.com.
This press release contains "forward -looking statements" within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward -looking
statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
The TSXV has neither reviewed nor approved the contents of this press release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Power Metals Corp.
Johnathan More
646-661-0409