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European Electric Metals Inc. (TSXV: EVX) (OTC PINK: EVXXF) (“EVX”) (the “Company”) announces a proposed financing of 2 million units at CAD $0.25 per unit for total gross proceeds of $500,000.
Each unit will consist of one common share and one-half common share purchase warrant, with each whole warrant entitling the holder to purchase one common share in the Company for $0.35 for a period of 18 months from the date of issue. All securities to be issued under this private placement will be subject to a four-month resale restriction.
Finders’ fees may be payable on the placement. Proceeds will be used for general working capital.
Closing of the financing is subject to TSX Venture Exchange acceptance.
About European Electric Metals Inc.
European Electric Metals Inc. is a Canadian listed public Company, with a focus on electrification themed projects in Europe. A major shareholder of EVX is the European Bank for Reconstruction and Development. The goal of EVX is to become a major source of battery metals such as copper, nickel and cobalt, and the Company seeks to do so within safe, stable and logistically attractive European jurisdictions. The Company's projects are ideally located with excellent road, port and grid power availability, and near European countries that are poised to experience dramatic growth in the electric-vehicle-manufacturing industry. There is a strong battery-manufacturing industry within Europe with many more projects in the pipeline.
On behalf of the Company,
Fred Tejada, Chief Executive Officer and Director
Forward-Looking Statements. This news release contains “forward-looking” statements and information relating to the Company are based on the beliefs of Company management, as well as assumptions made by and information currently available to Company management. There are risks associated with such forward looking statements, and there is no assurance the Company will be able to complete the private placement on the terms announced, or at all. The Company does not undertake to update forward-looking statements or forward-looking information, 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.