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Pure Energy Minerals Announces C$6 Million Private Placement Offering
Pure Energy Minerals Announces C$6 Million Private Placement Offering Canada NewsW...
About this update from Pure Energy Minerals Ltd.
[{"type":"text","content":"\n\n\n\nPure Energy Minerals Announces C$6 Million Private Placement Offering\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nDENVER, Dec. 14, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES./\n\n\n\nDENVER, Dec. 14, 2017 /CNW/ - Pure Energy Minerals Limited (TSX VENTURE:PE) (OTCQB:PEMIF) (the \"Company\" or \"Pure Energy\") is pleased to announce that it will undertake a private placement offering (the \"Offering\") of units (the \"Units\"). Canaccord Genuity Corp. will act as the lead agent and sole book runner on a commercially reasonable efforts basis for a syndicate of agents (the \"Agents\") including Red Cloud Klondike Strike Inc. and Beacon Securities Limited.\n\nPursuant to the Offering, the Company will sell up to 15,000,000 Units, at a price of C$0.40 per Unit (the \"Issue Price\"), for aggregate gross proceeds of up to C$6.0 million. Each Unit will be comprised of one common share in the capital of the Company (each, a \"Common Share\") and one common share purchase warrant of the Company (each, a \"Warrant\") exercisable for a period of 36 months from the Closing Date. Each Warrant will be exercisable into one common share of the Company at a price of C$0.55 per share (the \"Warrant Exercise Price\") and include an acceleration provision if the closing price of the Common Shares is greater than C$1.10 for at least 20 consecutive trading days and will also be subject to adjustment in certain events. In addition, the Company will grant the Agents an option (the \"Over-Allotment Option\") to purchase additional Units (the \"Option Units\") of the Company to cover over-allotments, if any, and for market stabilization purposes. A maximum of 15%, in the aggregate, of the number of Units issued at the closing of the Offering may be issued as Option Units pursuant to any exercise of the Over-Allotment Option. The Over-Allotment Option shall be exercisable at any time up t...