Vancouver, British Columbia--(Newsfile Corp. - July 9, 2026) - Pure Energy Minerals Limited (TSXV: PE) (OTCQB: PEMIF) ("Pure Energy" or "the Company") is pleased to announce that it has closed the first tranche of its non-brokered private placement announced on May 22, 2026 (the "Offering"). For this tranche, the Company has issued 1,200,000 units (the "Units") at a price of $0.25 per Unit for gross proceeds of $300,000.
Each Unit consists of one common share of the Company and one common share purchase warrant (a "Warrant"), with each Warrant entitling the holder to purchase one additional common share (a "Warrant Share") at a price of $0.37 for a period of 3 years following the closing of the Offering (the "Expiry Date").
The Company intends to use the net proceeds of the Offering for general working capital purposes, including the evaluation of prospective transactions, settlement of current liabilities, ongoing exploration expenditures, option payments in respect of mineral properties, and other corporate and administrative expenses.
The securities issued under the Offering, and any shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.
No finder's fees were paid in connection with the first tranche of the Offering. The Company may pay finder's fees in connection with any subsequent tranches of the Offering, subject to approval of the TSX Venture Exchange.
None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Change of Corporate Secretary
The Company also announces that Ann Fehr has resigned as Corporate Secretary of the Company, effective July 9, 2026. The Board of Directors wishes to thank Ms. Fehr for her contributions and service to the Company. The Company is pleased to announce the appointment of Xavier Wenzel, as Corporate Secretary, effective the same date.
About Pure Energy
Pure Energy is a TSX Venture Exchange-listed mineral exploration company transitioning toward a new phase of corporate growth. Following the successful option-out of its Clayton Valley Project, the Company is actively evaluating transformative transactions. The Company is committed to a disciplined M&A strategy aimed at creating long-term shareholder value.