Nevada Clean Magnesium Closes Second Tranche of Private Placement

Nevada Clean Magnesium (TSXV:NVM) has closed the second tranche of its previously announced non-brokered private placement for gross proceeds of $108,500.

As quoted in the press release:

The proceeds of the Offering will be used update the NI 43-101 Preliminary Economic Assessment of the Tami-Mosi Magnesium Project, general working capital, and accounts payables, including legal and transfer agent fees. Although the Company intends to use the proceeds of the Offering as described above, the actual allocation of net proceeds may vary from the uses set forth above, depending on future operations or unforeseen events or opportunities. If the Offering is not satisfactory, the Company will apply the proceeds of the Offering to the above uses in priority and in such proportions as management of the Company determines is in the best interests of the Company.

Click here to read the Nevada Clean Magnesium (TSXV:NVM) press release