European Energy Announces Closing of First Tranche of Private Placement
European Energy Metals Corp. (TSXV: FIN) has closed the first tranche of its non-brokered private placement, issuing 15,795,000 Units at $0.125 per Unit for total gross proceeds of $1,974,375. Each Unit comprises one common share and half a warrant, exercisable at $0.20 until September 9, 2026. The company paid Leede Financial Inc. a $131,118.75 commission and issued additional shares and broker warrants as compensation.
The securities are subject to a four-month hold period ending January 9, 2025. Proceeds will fund exploration work and working capital. Insiders subscribed for 580,000 Units, with the company relying on exemptions from MI 61-101 requirements. European Energy plans to complete the final tranche within a week, subject to TSX Venture Exchange approval.
European Energy Metals Corp. (TSXV: FIN) ha chiuso la prima tranche della sua offerta privata non mediata, emettendo 15.795.000 Unit a $0,125 per Unit, per un totale di proventi lordi di $1.974.375. Ogni Unit è composta da una azione ordinaria e metà di un warrant, esercitabile a $0,20 fino al 9 settembre 2026. L'azienda ha pagato Leede Financial Inc. una commissione di $131.118,75 ed ha emesso azioni aggiuntive e warrant per broker come compenso.
Le securities sono soggette a un periodo di fermo di quattro mesi che scade il 9 gennaio 2025. I proventi finanzieranno lavori di esplorazione e capitale circolante. Gli insider hanno sottoscritto 580.000 Unit, con l'azienda che si affida a esenzioni dai requisiti di MI 61-101. European Energy prevede di completare la tranche finale entro una settimana, soggetta all'approvazione della TSX Venture Exchange.
European Energy Metals Corp. (TSXV: FIN) ha cerrado la primera tranche de su colocación privada no intermediada, emitiendo 15.795.000 Unidades a $0,125 por Unidad, lo que representa unos ingresos brutos totales de $1.974.375. Cada Unidad consta de una acción común y medio warrant, ejercitable a $0,20 hasta el 9 de septiembre de 2026. La compañía pagó a Leede Financial Inc. una comisión de $131.118,75 y emitió acciones adicionales y warrants para brokers como compensación.
Los valores están sujetos a un período de retención de cuatro meses que finaliza el 9 de enero de 2025. Los ingresos financiarán trabajos de exploración y capital de trabajo. Los insiders suscribieron 580.000 Unidades, confiando la empresa en exenciones de los requisitos de MI 61-101. European Energy planea completar la tranche final dentro de una semana, sujeta a la aprobación de la TSX Venture Exchange.
유럽 에너지 금속 주식회사 (TSXV: FIN)가 첫 번째 트랜치를 종료했으며, 15,795,000개 유닛을 $0.125의 가격으로 발행하여 총 총수익 $1,974,375을 기록했습니다. 각 유닛은 하나의 보통주와 반 개의 워런트로 구성되어 있으며, $0.20에 2026년 9월 9일까지 행사할 수 있습니다. 회사는 Leede Financial Inc.에 $131,118.75의 수수료를 지급했으며, 보상으로 추가 주식 및 브로커 워런트를 발행했습니다.
증권은 2025년 1월 9일 종료되는 4개월의 보유 기간을 따릅니다. 수익은 탐사 작업과 운영 자본을 지원하는 데 사용됩니다. 내부자는 580,000 유닛을 구독했으며, 회사는 MI 61-101 요구 사항에서 면제를 받았습니다. 유럽 에너지는 TSX 벤처 거래소의 승인을 받아 일주일 이내에 최종 트랜치를 완료할 계획입니다.
European Energy Metals Corp. (TSXV: FIN) a clôturé la première tranche de son placement privé non intermédiaire, en émettant 15.795.000 unités à 0,125 $ par unité pour un produit brut total de 1.974.375 $. Chaque unité comprend une action ordinaire et une demi-option, exerçable à 0,20 $ jusqu'au 9 septembre 2026. La société a payé Leede Financial Inc. une commission de 131.118,75 $ et a émis des actions additionnelles et des options de courtage en compensation.
Les titres sont soumis à une période de blocage de quatre mois se terminant le 9 janvier 2025. Les revenus financeront les travaux d'exploration et le fonds de roulement. Les initiés ont souscrit 580.000 unités, la société se reposant sur des exemptions des exigences de MI 61-101. European Energy prévoit de compléter la tranche finale dans une semaine, sous réserve de l'approbation de la Bourse de risque TSX.
European Energy Metals Corp. (TSXV: FIN) hat die erste Tranche seiner nicht vermittelten Privatplatzierung abgeschlossen und 15.795.000 Einheiten zu je $0,125 pro Einheit ausgegeben, was zu einem Gesamterlös von $1.974.375 führt. Jede Einheit besteht aus einer Stammaktie und einem halben Warrant, der bis zum 9. September 2026 zu $0,20 ausgeübt werden kann. Das Unternehmen zahlte Leede Financial Inc. eine Provision von $131.118,75 und gab zusätzliche Aktien und Broker-Warrants als Vergütung aus.
Die Wertpapiere unterliegen einer viermonatigen Haltedauer, die am 9. Januar 2025 endet. Die Erlöse werden zur Finanzierung von Erkundungsarbeiten und Betriebskapital verwendet. Insider haben 580.000 Einheiten gezeichnet, wobei das Unternehmen auf Ausnahmen von den Anforderungen von MI 61-101 zurückgreift. European Energy plant, die letzte Tranche innerhalb einer Woche abzuschließen, vorbehaltlich der Genehmigung der TSX-Venture-Börse.
- Raised $1,974,375 in gross proceeds from the first tranche of private placement
- Insider participation with 580,000 Units subscribed, showing confidence in the company
- Funds to be used for exploration work and working capital, potentially advancing company projects
- Dilution of existing shareholders due to issuance of 15,795,000 new Units
- Additional dilution from 1,157,000 shares and 239,050 broker warrants issued as compensation
- Four-month hold period on new securities may limit short-term liquidity
Vancouver, British Columbia--(Newsfile Corp. - September 10, 2024) - European Energy Metals Corp. (TSXV: FIN) ("European Energy" or the "Company") is pleased to announce that it has closed it's the first tranche (the "First Tranche") of its previously announced non-brokered private placement (the "Private Placement") of up to 17,600,000 units ("Units") at a price of
Each Unit consists of one common share (a "Share") and one-half of a common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant is exercisable for one additional Share at an exercise price of
In connection with the First Tranche, the Company has paid Leede Financial Inc. a cash commission of
All securities issued pursuant to the First Tranche are subject to a statutory hold period of four months, expiring on January 9, 2025. The Company intends to use the net proceeds of the Private Placement for exploration work on its properties and for working capital.
Insiders of the Company have subscribed for 580,000 Units in the First Tranche. The issuance of the Units to the insiders pursuant to the Private Placement (the "Insider Participation") is considered to be a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 - PROTECTION OF MINORITY SECURITY HOLDERS IN SPECIAL TRANSACTIONS ("MI 61-101"). The Company intends to rely on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in Sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively, in respect of the Insider Participation.
Subject to the approval of the TSX Venture Exchange, the Company intends to complete the final tranche of the Private Placement within the next week.
About European Energy Metals Corp.
European Energy Metals Corp. is a junior mining company currently focused on the lithium-cesium-tantalum Finnish pegmatite project in central Finland. Governing bodies in Europe and Finland are legislating environmentally friendly and energy-independent laws and policies. One of the key components is access to REE (rare earth elements) and, specifically, lithium. The Company's concessions are located within 15 kilometres of the Keliber mine and production complex, currently under construction and expected to begin production in the second half of 2025. The Company cautions the presence of lithium mineralization on Keliber's properties is not necessarily indicative of similar mineralization on the Company's mineral reservations.
An estimated 600-million-euro investment by Keliber's parent company, Sibanye-Stillwater Ltd., in partnership with the Finnish Minerals Group, is under way in the Kautinen region, and will see the development of open-pit and underground mining from several deposits, construction of a central spodumene concentrator plant, and a lithium hydroxide chemical plant at tidewater in Kokkola. When completed, this complex will comprise a complete hard-rock spodumene pegmatite lithium supply chain.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jeremy Poirier, CEO
Telephone: 604-722-9842
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities legislation. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Such statements include, without limitation, statements regarding the regarding completion of the final tranche of the Private Placement, the use of proceeds of the Private Placement, future results of operations, performance and achievements of the Company, including the presence of lithium mineralization at, and the exploration and development potential of, the Finnish Pegmatite. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct. All such forward-looking information is based on certain assumptions and analyses made by the Company in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information, however, is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Important factors that could cause actual results to differ from this forward-looking information include the Company's ability to find suitable investors for the final tranche of the Private Placement or to obtain the approval of the TSX Venture Exchange, management's discretion to reallocate the proceeds of the Private Placement as well as risks inherent in exploration as well as those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A. The Company does not intend, and expressly disclaims any obligation to, update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222748
FAQ
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