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Enerev5 Metals Announces New Brokered Private Placements and Termination of Prior Placement
Toronto, Ontario--(Newsfile Corp. - June 8, 2023) - Enerev5 Metals Inc. (TSXV: ENEV) (OTCQB: ENEV...
About this update from Enerev5 Metals Inc.
[{"type":"text","content":"Enerev5 Metals Announces New Brokered Private Placements and Termination of Prior PlacementToronto, Ontario--(Newsfile Corp. - June 8, 2023) - Enerev5 Metals Inc. (TSXV: ENEV) (OTCQB: ENEVF) (\"Enerev5\" or the \"Company\") announces that it plans to raise $300,000 of flow through dollars to fund the planned phase one geophysical survey and $250,000 of hard dollars for working capital and administrative expenses the details of which are below.The Company plans to issue up to 5,000,000 hard dollar units (\"Hard Dollar Units\") at a price of $0.05 per unit ($250,000) and up to 3,000,000 flow-through units (\"Flow-Through Units\") at a price of $0.10 per unit ($300,000). Each Hard Dollar Unit consists of one common share of the Company and one common share purchase warrant (a \"Warrant\"). Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.05 for a period of five years from the date of issue. Each Flow-Through Unit consists of one flow-through common share and one Warrant. The Hard Dollar Units and Flow-Through Units are being offered on a brokered basis through IBK Capital Corp.(the \"Agent\").The Company will pay the Agent a cash fee of 9% of the funds raised, and issue to the Agent warrants equal to 10% of all Hard Dollar Units and Flow-Through Units issued in the form of non-transferable broker warrants (the \"Broker Warrants\"). Each Broker Warrant entitles the holder to acquire one unit (\"Broker Units\") at a price of $0.05 for a period of five (5) years. Each Broker Unit consists of one common share of the Company and one common share purchase warrant (a \"Broker Unit Warrant\"). Each Broker Unit Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.05 for a period of five years from the date of issuance of the Broker Warrant. IBK Capital Corp. is a \"connected issuer\" and \"related issuer\" of the Company, as defined in Canadian securities legislation, by virtue of the ownership of securities of the Company by its directors and officers.All securities issued in these offerings are subject to a 4-month hold period from the date of closing.The private placement announced on March 2, 2023 has been terminated.About Enerev5 Metals Inc.Enerev5 Metals Inc. (TSXV: ENEV) (OTCQB: ENEVF) is a Canadian resource company which has ...