July 15, 2014 Vancouver, BC, Pure Energy Minerals Ltd. (“Pure Energy” or “the Company”) Pure Energy Minerals Ltd. has closed the second tranche of its non-brokered private placement of units of the company at a price of 10 cents per unit, as previously announced in the Company’s news release of March 21, 2014, and May 21, 2014. 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. 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 35 cents or more for 21 consecutive trading days.
The second tranche consisted of 3,118,200 units purchased at 10 cents per common share for gross proceeds of $311,820. In connection with closing the second tranche, the company paid a cash finder’s fee of $2,233.70 and issued 22,337 warrants to Canaccord Genuity Corp., a cash finder’s fee of $4,620 to Jordan Capital Markets Inc. and a cash finder’s fee of $1,015, and issued 10,150 finder’s warrants to Leede Financial Markets Inc. The securities issued under the second tranche are also subject to a four-month-and-a-day hold period expiring Nov. 15, 2014.
The proceeds of the second tranche will be used for the Company’s prospective lithium brine properties located in Esmeralda County, Nevada, 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.
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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.
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