en.Wedoany.com Reported - Pure Energy Minerals Limited (TSX Venture Exchange: TSXV: PE, OTC Markets: OTCQB: PEMIF) announced a non-brokered private placement of up to 2,000,000 units at a price of C$0.25 per unit, for aggregate gross proceeds of C$500,000.
Each unit consists of one common share of the Company and one common share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of C$0.37 for a period of 36 months following the closing of the offering.
Certain insiders of the Company may subscribe for units in the offering. Insider participation will be considered a related party transaction as defined under Multilateral Instrument 61-101. As the fair market value of the units subscribed for by insiders and the consideration paid by them will not exceed 25% of the Company's market capitalization, such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101.
The net proceeds from the offering will be used for general working capital, including evaluating potential transactions, settling current liabilities, ongoing exploration expenditures, mineral property option payments, and other corporate and administrative expenses.
The securities issued pursuant to the offering, and any shares that may be issuable upon exercise of such securities, will be subject to a statutory hold period of four months and one day from the date of issuance.
The Company may pay finder's fees on a portion of the offering, as applicable, subject to compliance with applicable securities laws. Completion of the offering is subject to approval from the TSX Venture Exchange.
The securities sold in this offering have not been 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 registration requirements. This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction where such offer, solicitation, or sale would be unlawful.
Pure Energy is a mineral exploration company listed on the TSX Venture Exchange. Following the successful exit from its option on the Clayton Valley Project, the Company is actively evaluating transformative transactions, committed to creating long-term shareholder value through a disciplined M&A strategy.
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