Pure Energy Minerals (TSXV:PE) announced that it is holding a private placement seeking proceeds of $1.5 million. The proceeds of the placement will be used for additional exploration on the company’s lithium brine properties in Esmeralda county, Nevada.
According to the press release:
Pure Energy Minerals Ltd. will, subject to a regulatory approval, conduct a non-brokered private placement of units of the company at a price of 20 cents per unit to raise gross proceeds of up to $1.5-million. Each unit will consist of one common share of the company and one transferable share purchase 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 30 cents per common share.