TSXV: NEM
TORONTO, May 1, 2015 /CNW/ - New Era Minerals Inc.
(the "Company") is pleased to announce that it is arranging
a non-brokered private placement (the "Private Placement")
involving the sale of up to 10 million common shares of the Company
(the "Shares") at a price of Cdn$0.20 per Share to raise gross proceeds of up
to Cdn$2 million.
The terms and completion of the Private Placement are subject to
TSX Venture Exchange approval.
The funds raised from the Private Placement are to be used for
general corporate and working capital requirements, including the
investigation of potential opportunities to acquire additional
mining projects in Xinjiang, People's
Republic of China ("PRC").
About New Era Minerals Inc.
New Era Minerals Inc., through its wholly-owned subsidiary,
Haijin International Group Limited, owns 95% of Xinjiang
Yongkun Mining Co. Ltd. ("Yongkun"). Yongkun's
principal activities are the exploration, evaluation and
development of mineral property interests in the PRC,
including Yongkun's 100%-owned Suyeke North nickel property
located in Tuoli County, Tacheng
Area, Xinjiang-Uyghur Autonomous Region, PRC.
On behalf of the Board of Directors of
NEW ERA MINERALS INC.
Sun Tian Xiang
Chief
Executive Officer
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE New Era Minerals Inc.