New Age Metals closes $350K private placement

New Age Metals Inc.



News Release

NEW AGE METALS INC. CLOSES PRIVATE PLACEMENT RAISING $350,000

December 21, 2017 Vancouver, Canada – New Age Metals Inc. (“NAM” and the “Company”) (TSX.V: NAM; OTCQB: PAWEF) announces that further to its news releases dated December 15, 2017, the Company has closed its private placement raising an aggregate $350,000 by way of combined non-flow-through (“NFT”) and flow-through (“FT”) units.

The Company has issued 883,333 non-flow through units and 3,783,334 flow-through units. Both NFT and FT unit consisted of one common share at a price of $0.075 per Unit and one half of one non-transferable share purchase warrant (“Warrant”). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.15 per share for a period of 18 months from closing, subject to an acceleration clause.

All Warrants issued in connection with this financing are subject to an acceleration clause. If the closing price of the Company’s shares is at or above $0.35 per share for a period of ten (10) consecutive trading days during the exercise period, the Company may accelerate the expiry date of the Warrants to 30 calendar days from the date express written notice is given by the Company to the holder.

The proceeds of the private placement will be used for continued exploration and development of NAM’s flagship River Valley PGM project near Sudbury Ontario (Press release 2017-12-15).

Finder’s fees were paid in connection with the private placement in the amount of $19,159.18 in cash.

All securities issued in connection with the private placement are subject to a four month and a day hold period expiring on April 22, 2018 in accordance with applicable Canadian Securities Laws. Completion of the private placement and any finder’s fees payable are subject to regulatory approval.

On behalf of the Board of Directors
“Harry Barr”
Harry G. Barr
Chairman and CEO

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.