PURE ENERGY MINERALS LIMITED CLOSES FIRST TRANCHE OF NON- BROKERED PRIVATE PLACEMENT
June 3, 2014, Vancouver, BC – Pure Energy Minerals Limited (the “Company”) (TSX-V: PE) is pleased to announce that it has closed the first tranche (the “First Tranche”) of a non- brokered private placement announced March 21, 2014 and amended May 21, 2014, for up to 15,000,000 units (each a “Unit”) of the Company at a price of $0.10 per Unit for gross proceeds of up to $1,500,000. Each Unit consists of one common share of the Company and one transferable share purchase warrant (a “Warrant”). Each Warrant is exercisable to acquire one additional common share of the Company for a period of three years at a price of $0.15 per common share. The Warrants will have an acceleration provision pursuant to which the term of the Warrants shall automatically be reduced to 30 business days in the event the closing weighted average price of the Company’s common shares is $0.35 or more for 21 consecutive trading days.
The First Tranche consisted of 3,160,000 Units purchased at $0.10 per common share for gross proceeds of $316,000. In connection with closing the First Tranche, the Company paid a cash finder’s fee of $18,200 to Canaccord Genuity Corp. and $1,750 to Jordan Capital Markets Inc. The securities issued under the First Tranche are also subject to a four-month and a day hold period expiring October 1, 2014.
The proceeds of the First Tranche will be used to the Company’s prospective lithium brine properties located in Esmeralda County, Nevada, USA and for general working capital.
ON BEHALF OF THE BOARD
PURE ENERGY MINERALS LIMITED
Chief Executive Officer
For further information contact:
Robert Mintak www.pureenergyminerals.com (604) 608-6611
We Seek Safe Harbour. Neither 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.