Business
E3 Metals Corp. Closes Financing and Begins Work on Brine Production Planning
E3 Metals Corp. Closes Financing and Begins Work on Brine Production Planning Cana...
About this update from E3 Lithium Ltd
[{"type":"text","content":"\n\n\n\nE3 Metals Corp. Closes Financing and Begins Work on Brine Production Planning\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, March 2, 2020\n\n\n\n/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES/\nTSXV:       ETMC FSE:          OU7AOTC:         EEMMF\n CALGARY, March 2, 2020 /CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTC: EEMMF) (the \"Company\" or \"E3 Metals\") is pleased to announce the successful closing of the second tranche of its non-brokered private placement financing (the \"Offering\") announced on November 20, 2019.  Under the Offering, the Company has now issued a total of 5,272,400 units of the Company (the \"Units\"), including 2,267,900 units issued on the first tranche which closed December 18 2019, at a price of $0.40 per Unit for a total gross proceeds of $2,108,960. Each Unit is comprised of one common share (a \"Share\") and one-half of one common share purchase warrant (each whole warrant a \"Warrant\"). Each Warrant entitles the holder to acquire one additional common share at an exercise price of $0.60 for a period of 30 months following the date of issuance. E3 Metals now has 30,477,400 common shares issued and outstanding. Securities under this Tranche 2 are subject to a four month hold period from their date of issue. Commissions comprised of $18,000 cash and 45,000 broker warrants were issued in connection with the Tranche 2 closing. Broker warrants issued carry the same terms as the Warrants.\n\n \n \n \n \n \n \n\n \nFurther to the Company's press release of November 20, 2019, E3 Metals wishes to advise that it will not invoke the acceleration provisions of the Warrants under either the Tranche 1 or Tranche 2 closing of the Offering.\nThe Company plans to deploy the funds raised to continue the development of the reservoir and advance the brine production...