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  • New Energy Metals Corp. (ENRG) has announced a non-brokered private placement for gross proceeds of up to $1,000,000
  • The company will issue up to 4,000,000 units at a price of $0.25 per unit
  • The net proceeds will be used to fund exploration, acquisitions and working capital
  • New Energy Metals is a mining company focused on the exploration and development of mineral resource properties
  • New Energy Metals Corp. (ENRG) is down 7.55 per cent on the day, trading at C$0.245 per share at 12 pm ET

New Energy Metals Corp. (ENRG) has announced a non-brokered private placement for gross proceeds of up to $1,000,000.

The company will issue up to 4,000,000 units at a price of $0.25 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to acquire one additional common share at a price of $0.50 for a period of two years after the closing of the offering.

Warrants are subject to an acceleration clause.

The net proceeds will be used to fund exploration, acquisitions as well as working capital and other general corporate purposes.

All securities issued will be subject to a statutory four-month hold period.

New Energy Metals is a mining company focused on the exploration and development of mineral resource properties. The company is focused on developing the Cristal Copper project located in northernmost Chile, adjacent to the Peruvian border.

New Energy Metals Corp. (ENRG) is down 7.55 per cent on the day, trading at C$0.245 per share at 12 pm ET.


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