Primary Energy Metals (CSE:PRIM) (FSE:1WZ:GR OTC:PEMTD-0) (“Primary”or the “Company”) announces that it will conduct a non-brokered private placement of up to 13,333,333 units (each, a “Unit”) at a price of $0.075 per Unit, for gross proceeds of up to $1,000,000.
Primary Energy Metals (CSE:PRIM) (FSE:1WZ:GR OTC:PEMTD-0) (“Primary”or the “Company”) announces that it will conduct a non-brokered private placement of up to 13,333,333 units (each, a “Unit”) at a price of $0.075 per Unit, for gross proceeds of up to $1,000,000. Each “Unit” will consist of one common share, and one-half-of-one common share purchase warrant, each of which is exercisable at a price $0.15 for a period of twenty-four months.
The Company is also pleased to announce that Joel Shacker has been appointed to the board of directors. Mr. Shacker has worked extensively in the cannabis and finance space over the past six years and sat on the board of directors for the publicly trading cannabis lifestyle company Weekend Unlimited Inc. He has been in charge of leading the expansion into international cannabis markets and has overseen and developed operations from the ground up. He entered the cannabis space by founding a cannabis extraction company which specialized in licensing proprietary formulas to producers. Mr. Shacker holds an Honors Business Administration degree from Ivey Business School specializing in finance and has also served as Chief Operating Officer of CanPac Investment Corp and as an Associate at Stadnyk and Partners.
Mr. Shacker fills the vacancy created by Chaimae El Amri, who has resigned from the board of directors to pursue other ventures. The board thanks Ms. El Amri for her contributions to the Company, and wishes her well in her future endeavours.
About Primary Energy Metals Inc.
PRIMARY ENERGY METALS INC. (CSE: Prim FSE: 1WZ:GR OTC: PEMTD-0) is a listed junior exploration and development company and is engaged in the business of acquiring, exploring and developing ethically sourced Vanadium, Cobalt, Copper, Nickel, Uranium, Lithium, Manganese and Silver/Gold focused mineral resource properties to create value for its shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS
CEO and President
Telephone: +1 778-735-1000
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. All statements other than statements of historical fact are forward- looking statements, including, without limitation, statements regarding future financial position, business strategy, use of proceeds, corporate vision, proposed acquisitions, partnerships, joint-ventures and strategic alliances and co- operations, budgets, cost and plans and objectives of or involving the Company. Such forward-looking information reflects management’s current beliefs and is based on information currently available to management. Often, but not always, forward-looking statements can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “predicts”, “intends”, “targets”, “aims”, “anticipates” or “believes” or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. A number of known and unknown risks, uncertainties and other factors may cause the actual results or performance to materially differ from any future results or performance expressed or implied by the forward-looking information. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of the Company including, but not limited to, the impact of general economic conditions, industry conditions and dependence upon regulatory approvals. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by securities laws.