Electric Metals Announces Second Extension of Private Placement
Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) has announced a 30-day extension for closing the second and final tranche of its non-brokered private placement. The offering aims to issue up to 10,000,000 common shares at CAD$0.10 per share, targeting maximum gross proceeds of CAD$1,000,000.
The company previously closed the first tranche on December 13, 2024, issuing 5,837,000 common shares at $0.10 per share, raising gross proceeds of C$583,700. The final closing and TSX Venture Exchange documentation acceptance is expected by February 12th, 2025.
Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) ha annunciato un'estensione di 30 giorni per la chiusura della seconda e ultima tranche del suo collocamento privato non intermediatario. L'offerta mira a emettere fino a 10.000.000 azioni ordinarie a CAD$0,10 per azione, puntando a proventi lordi massimi di CAD$1.000.000.
La società aveva già chiuso la prima tranche il 13 dicembre 2024, emettendo 5.837.000 azioni ordinarie a $0,10 per azione, raccogliendo proventi lordi di C$583.700. Si prevede che la chiusura finale e l'accettazione della documentazione presso la Borsa di Toronto Venture avvenga entro il 12 febbraio 2025.
Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) ha anunciado una extensión de 30 días para cerrar la segunda y última tranche de su colocación privada no intermedia. La oferta tiene como objetivo emitir hasta 10.000.000 acciones ordinarias a CAD$0,10 por acción, con un objetivo de ingresos brutos máximos de CAD$1.000.000.
La compañía ya cerró la primera tranche el 13 de diciembre de 2024, emitiendo 5.837.000 acciones ordinarias a $0,10 por acción, recaudando ingresos brutos de C$583.700. Se espera que el cierre final y la aceptación de la documentación por parte de la Bolsa de Valores de Toronto Venture ocurra para el 12 de febrero de 2025.
Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF)는 비중개 사모배정의 두 번째 및 마지막 분할을 종료하기 위해 30일 연장하였다고 발표했습니다. 이 제안은 10,000,000주의 보통주를 CAD$0.10 주당 발행하는 것을 목표로 하며, 최대 총 수익을 CAD$1,000,000으로 설정하고 있습니다.
회사는 2024년 12월 13일에 첫 번째 분할을 종료하였으며, 5,837,000주의 보통주를 주당 0.10달러에 발행하여 총 수익 C$583,700을 모았습니다. 최종 종료 및 토론토 벤처 증권 거래소의 문서 수락은 2025년 2월 12일까지 예상됩니다.
Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) a annoncé une prolongation de 30 jours pour la clôture de la deuxième et dernière tranche de son placement privé non-intermédié. L'offre vise à émettre jusqu'à 10.000.000 d'actions ordinaires à CAD$0,10 par action, avec des produits bruts maximums ciblés de CAD$1.000.000.
La société avait précédemment clôturé la première tranche le 13 décembre 2024, émettant 5.837.000 actions ordinaires à 0,10 CAD par action, levant ainsi des produits bruts de C$583.700. La clôture finale et l'acceptation de la documentation par la Bourse de Toronto Venture sont attendues d'ici le 12 février 2025.
Electric Metals (USA) (TSXV:EML)(OTCQB:EMUSF) hat eine 30-tägige Verlängerung für den Abschluss der zweiten und letzten Tranche seiner nicht-agenturierten Privatplatzierung bekannt gegeben. Das Angebot zielt darauf ab, bis zu 10.000.000 Stammaktien zu einem Preis von CAD$0,10 pro Aktie auszugeben, mit dem Ziel, maximal CAD$1.000.000 zu erlösen.
Das Unternehmen hatte bereits die erste Tranche am 13. Dezember 2024 abgeschlossen, wobei 5.837.000 Stammaktien zu 0,10 CAD pro Aktie ausgegeben wurden und damit Bruttoerlöse von C$583.700 erzielt wurden. Der endgültige Abschluss und die Dokumentenannahme der TSX Venture Exchange wird bis zum 12. Februar 2025 erwartet.
- Successfully raised C$583,700 in first tranche of private placement
- Potential to raise additional C$416,300 in second tranche
- Delayed closing of second tranche requiring 30-day extension
- Dilution of existing shareholders through share issuance
Not for distribution to U.S. news wire services or dissemination in the United States.
TORONTO, ON / ACCESSWIRE / January 13, 2025 / Electric Metals (USA) Limited ("EML" or the "Company") (TSXV:EML)(OTCQB:EMUSF) is pleased to announce a 30-day extension to close a second and final tranche of the Company's non-brokered private placement (the "Offering") to issue a maximum of 10,000,000 common shares of the Company (a "Share") at a price of CAD
The final closing and filing acceptance of all documentation required by the TSX Venture Exchange in respect of the Offering is expected to occur on or before February 12th, 2025.
As announced on December 13, 2024, the Company closed the first tranche of the Offering, issuing an aggregate of 5,837,000 common shares ("the "Shares") at
About Electric Metals (USA) Limited
Electric Metals (USA) Limited (TSXV: EML) (OTCQB: EMUSF) is a US-based mineral development company with manganese and silver projects geared to supporting the transition to clean energy. The Company's principal asset is the Emily Manganese Project in Minnesota, the highest-grade manganese deposit in North America, which has been the subject of considerable technical studies, including National Instrument 43-101 Technical Reports - Resource Estimates. The Company's mission in Minnesota is to become a domestic US producer of high-value, high-purity manganese metal and chemical products to supply the North American electric vehicle battery, technology and industrial markets. With manganese playing a critical and prominent role in lithium-ion battery formulations, and with no current domestic supply or active mines for manganese in North America, the development of the Emily Manganese Project represents a significant opportunity for America, the State of Minnesota and for the Company's shareholders.
For further information, please contact:
Electric Metals (USA) Limited
Brian Savage
CEO & Director
(303) 656-9197
or
Valerie Kimball
Director Investor Relations
720-933-1150
info@electricmetals.com
Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions.
Such statements in this news release include, without limitation: the ability of the Company to complete the Offering; the size, terms and timing of the Offering; participation in the Offering by insiders of the Company; the timing and receipt of TSXV and other approvals required in connection with the Offering; the intended use of proceeds of the Offering; the Company's mission to become a domestic US producer of high-value, high-purity manganese metal and chemical products to supply the North American electric vehicle battery, technology and industrial markets; that manganese will continue to play a critical and prominent role in lithium-ion battery formulations; that with no current domestic supply or active mines for manganese in North America, the development of the Emily Manganese Project represents a significant opportunity for America, Minnesota and for the Company's shareholders; and planned or potential developments in ongoing work by Electric Metals.
These statements address future events and conditions and so involve inherent risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, the failure to obtain all necessary stock exchange and regulatory approvals; investor interest in participating in the Offering; and risks related to the exploration and other plans of the Company. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, updated conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.
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.
SOURCE: Electric Metals (USA) Limited
View the original press release on accesswire.com
FAQ
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