Pure Energy Minerals Announces Non-Brokered Private Placement
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
VANCOUVER, British Columbia, Sept. 13, 2017 — Pure Energy Minerals Limited (TSX VENTURE:PE) (OTCQB:PEMIF) (the “Company” or “Pure Energy”) announces that it intends to undertake a non-brokered private placement (the “Private Placement”) for total gross proceeds of up to $1,500,000 subject to a 20% over-allotment option. Proceeds of the Private Placement will be used for general working capital and exploration and development activities on the Clayton Valley and Terra Cotta Projects. The Private Placement will consist of up to 3,000,000 units (excluding any over-allotment) of the Company (each a “Unit”) at a price of $0.50 per Unit. Each Unit will consist of one common share of the Company (a “Share”) and one half Share purchase warrant (each whole such warrant, a “Warrant”).
Each whole Warrant will entitle the holder thereof to acquire one Share at a price of $0.75 for a period of 24 months following closing of the Private Placement (the “Expiry Date”), subject to acceleration. If at any time between the date that is four months and one day from the closing of the Private Placement and the Expiry Date of the Warrant, the closing price of the Shares on the TSX Venture Exchange (the “Exchange”) is equal to or greater than $1.20 for 20 consecutive trading days, then the Company may, at its sole option, elect to provide notice (the “Acceleration Notice”) to the holders of the Warrants by news release that the Warrants will expire at 4:00 p.m. (Vancouver time) on the date that is 30 days from the date of the Acceleration Notice (the “Accelerated Expiry Date”). In such instance, all Warrants that are not exercised prior to the Accelerated Expiry Date will expire on the Accelerated Expiry Date.
In connection with certain subscriptions under the Private Placement, the Company may pay a cash commission and issue finder warrants pursuant to and in accordance with applicable securities laws and Exchange policy. The Private Placement is subject to the acceptance of the Exchange.
About Pure Energy Minerals Limited
Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. The Company’s current focus is on the development of the Clayton Valley (CV) Project in Esmeralda County, Nevada. Pure Energy also has a purchase option on a major new lithium brine project in the Lithium Triangle of South America, the Terra Cotta Project (“TCP”). The TCP is located on Pocitos Salar in Salta, Argentina, where it enjoys some of the best infrastructure and access of any lithium brine exploration project in Argentina.
Pure Energy has developed core strengths in innovative development and processing technologies for lithium brines and lithium mineral deposits. Key attributes and activities include:
• A large, strategic land position with excellent infrastructure in a first-class mining jurisdiction: approximately 10,000 hectares (25,000 acres) in Clayton Valley, Esmeralda County, Nevada, located a 3-hour drive from the Gigafactory;
• An inferred mineral resource of approximately 247,000 tonnes of LiOH∙H2O (218,000 tonnes of LCE) at an average grade of 123 mg/L lithium;
• The only lithium brine resource in North America to yield a positive Preliminary Economic Assessment including aftertax NPV (8% discount) of US $264 million and an IRR of 21%;
• Advanced metallurgical testwork demonstrating the improved efficacy of a new environmentally responsible lithium processing technology that produces low-cost battery grade lithium hydroxide;
• A new early stage exploration program on the 13,000-hectare (32,000 acre) Terra Cotta Project (TCP), located on Pocitos Salar in Salta Province; and
• An active business development program, applying Company expertise to the evaluation of new lithium targets around the world.
On behalf of the Board of Directors,
Chief Executive Officer
Pure Energy Minerals Limited (www.pureenergyminerals.com)
Telephone – 604 608 6611, ext 7