Plateau Energy Metals Inc. (TSXV:PLU) announced today that it intends to proceed with a non-brokered private placement of units (“Units”) to raise gross proceeds of up to C$2.0 million (subject to the right to increase the size of the financing if demand is sufficient) (the “Financing”)
Plateau Energy Metals Inc. (TSXV:PLU) announced today that it intends to proceed with a non-brokered private placement of units (“Units”) to raise gross proceeds of up to C$2.0 million (subject to the right to increase the size of the financing if demand is sufficient) (the “Financing”). The Units will be offered at a price of C$0.60 per Unit and each Unit will consist of one common share of the Company and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of C$0.90 for a period of 36 months following the closing of the Financing. The Company will have the right to accelerate the expiry of the Warrants on 30 days’ written notice if, following 4 months and one day from the issuance of the Warrants, the volume weighted average price of the common shares of the Company on the TSX Venture Exchange for any period of twenty (20) consecutive trading days exceeds C$1.20 per common share.
Insiders of the Company may subscribe for up to 75% of the number of Units offerred. All securtiies issued in the Financing will be subject to a 4 month hold period in Canada.
Net proceeds from the Financing will be used to fund further drilling, property payments and the preparation of technical reports on the Company’s properties on the Macusani Plateau in southeastern Peru as well as for working capital and other general corporate purposes.
The Company intends to pay finders’ fees to registered dealers who procure subscriptions for Units of up to 6.0% payable in Units.
The Financing is expected to be completed on or about May 18, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful.
About Plateau Energy Metals
Plateau Energy Metals Inc. is a Canadian lithium and uranium exploration and development company focused on its properties on the Macusani Plateau in southeastern Peru. The Company controls all reported uranium resources known in Peru, significant and growing lithium resources and mineral concessions covering over 91,000 hectares (910 km2) situated near significant infrastructure. Plateau Energy Metals is listed on the TSX Venture Exchange under the symbol ‘PLU’, quoted on the OTCQB under the symbol “PLUUF” and the Frankfurt Exchange under the symbol ‘QG1’. The Company has 65,088,457 shares issued and outstanding.
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.