September 8, 2014 Vancouver, BC, Pure Energy Minerals Ltd. (“Pure Energy” or “the Company”) Pure Energy Minerals Ltd. has closed its oversubscribed non-brokered private placement financing, announced by news release Aug. 19, 2014, for gross proceeds of $990,000 by the issuance of 9.9 million units at 10 cents per unit.
Each unit consists of one common share of the Company and one transferable share purchase warrant. Each warrant is exercisable to acquire one additional common share of the company for a period of three years at a price of 15 cents per common share. In the event that the volume-weighted average closing price of the Company’s common shares on the TSX Venture Exchange is 35 cents or more for 21 consecutive trading days at any time subsequent to the expiry of six months from the date of issuance of the warrants, then the company will earn the right, by providing notice to the warrant holders, to accelerate the expiry date of the warrants to the date which is 30 days from the date of the warrant notice.
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 a total cash commission of $25,165. The Company also issued non-transferable finders’ warrants to purchase 6,650 common shares of the company for a period of three years, exercisable at a price of 15 cents per common share, subject to the same acceleration provisions as the warrants.
The proceeds of the private placement will be used for the Company’s prospective lithium brine properties located in Esmeralda County, Nevada, the United States, and for general working capital.
Pure Energy Minerals Limited
On behalf of the Board
Chief Executive Officer
PURE (TSX VENTURE: PE) is an innovative hybrid lithium exploration and processing technology company based in Vancouver, British Columbia. PURE is engaged in the exploration and development of innovative mineral processing technologies to test and develop in conjunction with the Company’s prospective lithium brine properties located in Esmeralda County Nevada.
On behalf of the Board of Directors
Chief Executive Officer
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.
We seek Safe Harbor.
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.
Investor Relations Contact
Phone: 604-608-6611 Ext 5