Pure Energy Minerals Closes $2,229,500 Private Placement

Pure Energy Minerals (TSXV:PE) has closed a non-brokered private placement for gross proceeds of $2,229,500. Proceeds from the placement will be used for additional exploration at Pure Energy’s lithium brine properties in Nevada and for general working capital.

As quoted in the press release:

Each Unit consists of one common share of the Company and one transferable share purchase warrant (a “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 $0.30 per common share.

Pure Energy Minerals CEO, Robert Mintak, said:

The Company is very happy that the financing was met with such enthusiasm. From our perspective, the oversubscription is a strong show of confidence from our shareholders. The completion of this financing allows the Company to focus on rapidly advancing our exploration program and achieving key value milestones. We look forward to updating our stakeholders on various corporate developments in the near future.

Click here to read the Pure Energy Minerals (TSXV:PE) press release
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