Business
New Age Metals Inc. Extends Term of Private Placement
(via TheNewswire) July 27 th , 2018 / TheNewswire / Rockport, Canada - New Age Met...
About this update from New Age Metals Inc
[{"type":"text","content":"New Age Metals Inc. Extends Term of Private Placement(via TheNewswire)\n \n \nJuly 27th, 2018 / TheNewswire / Rockport, Canada - New Age Metals Inc. (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J.F) announces that it has received acceptance from the TSX Venture Exchange for an extension to complete its non-brokered private placement for gross proceeds of up to $1,500,000. The Company oversubscribed its second tranche and increased its financing from $1,200,000 to $1,500,000. Financing terms and conditions can be found in the June 19, 2018, press release.\n\n\n \nThe proceeds will be used for working capital. The company's River Valley Platinum Group Metals (PGM) project is the largest undeveloped primary PGM project in North America and management has announced its first economic study, a Preliminary Economic Assessment (PEA). The company announced this week that P&E Mining Consultants will head up this economic assessment (For more details please follow the link to the related News Release). The companies Lithium Division is fully funded and its exploration program is well underway. For more information on the Lithium Division Please see our last two press releases (July 11, 2018 and June 14, 2018). \n\n \n \nABOUT NAM'S LITHIUM DIVISION\n\n\n \nThe summer exploration plan has begun for the company's Lithium Division. NAM has 100% ownership of eight pegmatite hosted Lithium Projects in the Winnipeg River Pegmatite Field, located in SE Manitoba, with focus on Lithium bearing pegmatites. Three of the projects are drill ready. This Pegmatite Field hosts the world class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium minerals) in varying capacities, since 1969. NAM's Lithium Projects are strategically situated in this prolific Pegmatite Field. Presently, NAM is the largest mineral claim holder for Lithium and Rare Metal projects in the Winnipeg River Pegmatite Field. \n\n \n \nLithium Canada Development is a 100% owned subsidiary of New Age Metals (NAM) who presently has an agreement with Azincourt Energy Corporation (AAZ) whereby AAZ will now expend a minimum of $600,000 in 2018. In its initial earn in AAZ may earn up to 50%, of the eight Lithium projects that are 100% owned by NAM. AAZ's 50% exploration expenditure earn in is $2.950 million and should they continue with their option the...