Business
Pure Energy Minerals Issues Shares
Vancouver, British Columbia--(Newsfile Corp. - May 9, 2022) - Pure Energy Minerals Ltd. (TSXV...
About this update from Pure Energy Minerals Ltd.
[{"type":"text","content":"Pure Energy Minerals Issues SharesVancouver, British Columbia--(Newsfile Corp. - May 9, 2022) - Pure Energy Minerals Ltd. (TSXV: PE) (OTCQB: PEMIF) (\"Pure Energy\" or \"the Company\") announces that, subject to regulatory approval, it will issue a total of 178,211 shares at a price of $1.209 per share, pursuant to a financial services agreement with an advisor to the Company, and additionally to issue shares for services provided by a director of the Company. About Pure EnergyPure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. Pure Energy has consolidated a pre-eminent land position at its Clayton Valley Project in the Clayton Valley of central Nevada for the exploration and development of lithium resources, comprising 950 claims over 23,360 acres (9,450 hectares), representing the largest mineral land holdings in the valley. Pure Energy's Clayton Valley Project adjoins and surrounds on three sides the Silver Peak lithium brine mine operated by Albemarle Corporation.Pure Energy's strategic partner, Schlumberger Technologies Corporation (\"SLB\"), is the operator of the Clayton Valley Project. In May of 2019, Pure Energy and SLB signed an Earn-In agreement over the CV Project which requires significant investment by SLB at the Project, to include the design and construction of a pilot plant capable of processing lithium-bearing brines for high-quality lithium hydroxide monohydrate (\"lithium hydroxide\" or \"LiOH∙H2O\") and/or lithium carbonate products at a specified rate. SLB plans to utilize both in-house and commercially available technology in the design of the CV pilot plant. SLB's costs, technical parameters and ultimate technology are anticipated to differ from the published PEA. For further details regarding SLB's participation, please refer to Pure Energy's Annual General and Special Meeting Management Information Circular dated April 4, 2019, available on SEDAR.com.On behalf of the Board of Directors,\"Mary L. Little\"Director, Pure Energy Minerals Ltd.CONTACT:Pure Energy Minerals Limited (www.pureenergyminerals.com)Email: [email protected] - 604 608 6611 Cautionary Statements and Forward-Looking InformationThe information in this news release contains forward-looking statements that are subject to a numbe...