VANCOUVER, BC / ACCESSWIRE / December 30, 2014 / Pure Energy Minerals Limited (the “Company”) (TSX-V: PE) is pleased to announce that it has closed its over-subscribed non-brokered private placement financing, announced by news release dated November 21, 2014 (the “Private Placement”) for gross proceeds of $2,229,500 by the issuance of 11,147,500 units (each a “Unit”) of the Company at a price of $0.20 per Unit.
Each Unit consists of one common share of the Company and one transferable share purchase warrant (a “Warrant”). Each Warrant shall be exercisable to acquire one additional common share of the Company for a period of 18 months at a price of $0.30 per common share.
All securities issued under the Private Placement are subject to a four-month hold period from the date of issuance.
In connection with the Private Placement the Company paid total cash commission of $77,550. The Company also issued non-transferable finder’s warrants to purchase 152,625 common shares of the Company for a period of 18 months, exercisable at a price of $0.30 per common share.
Robert Mintak, CEO of Pure Energy Minerals, stated “The Company is very happy that the financing was met with such enthusiasm. From our perspective, the oversubscription is a strong show of confidence from our shareholders. The completion of this financing allows the Company to focus on rapidly advancing our exploration program and achieving key value milestones. We look forward to updating our stakeholders on various corporate developments in the near future.”
The proceeds of the Private Placement will be used for additional exploration on the Company’s lithium brine properties located in Esmeralda County, Nevada and for general working capital.
ON BEHALF OF THE BOARD
PURE ENERGY MINERALS LIMITED
Chief Executive Officer
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