Plateau Energy Metals Announces $4.5 Million Private Placement
October 10 2018 - 9:17AM
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES
Plateau Energy Metals Inc. (“
Plateau” or the
“
Company”) (TSX VENTURE:PLU) (FRANKFURT:QG1A)
(OTCQB:PLUUF) is pleased to announce that it has entered into an
agreement with a syndicate of agents, led by Haywood Securities
Inc. and including Eight Capital and Cormark Securities Inc. (the
“
Agents”), that has agreed to sell, on a “best
efforts” private placement basis, up to 4,740,000 units (the
“
Units”) at a price of $0.95 per Unit (the
“
Issue Price”), for aggregate gross proceeds of up
to $4,503,000 (the “
Offering”).
The Agents will have the option, but not the
obligation, exercisable in whole or in part at any time up to the
closing of the Offering, to increase the size of the Offering by up
to an additional 711,000 Units at the Issue Price.
Each Unit will consist of one common share in
the capital of the Company (each a “Share”) and
one-half of one common share purchase warrant (each whole warrant,
a “Warrant”). Each whole Warrant will
entitle the holder to purchase one additional Share (a
“Warrant Share”) at a price of $1.25 per Warrant
Share for a period of 18 months from the closing of the
Offering.
The Company intends to use the net proceeds from
the Offering for the exploration and development of the Company’s
lithium and uranium projects in Peru, and for working capital and
general corporate purposes. The Offering is scheduled to close on
or about October 31, 2018 (the “Closing Date”),
and is subject to certain conditions customary for transaction of
this nature including, but not limited to, the receipt of all
necessary approvals, including the approval of the TSX Venture
Exchange.
The securities issued under the Offering will be
subject to a statutory hold period of four months and one day
following the Closing Date.
The securities to be offered pursuant to the
Offering have not been, and will not be, registered under the U.S.
Securities Act of 1933, as amended (the "U.S. Securities
Act") or any U.S. state securities laws, and may not be
offered or sold in the United States or to, or for the account or
benefit of, United States persons absent registration or any
applicable exemption from the registration requirements of the U.S.
Securities Act and applicable U.S. state securities laws. This news
release shall not constitute an offer to sell or the solicitation
of an offer to buy securities in the United States, nor shall there
be any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
About Plateau Energy
MetalsPlateau Energy Metals Inc. is a Canadian lithium and
uranium exploration and development company focused on its
properties on the Macusani Plateau in southeastern Peru. The
Company controls all reported uranium resources known in Peru,
significant and growing lithium resources and mineral concessions
covering over 93,000 hectares (930 km2) situated near significant
infrastructure. Plateau Energy Metals is listed on the TSX Venture
Exchange under the symbol 'PLU', quoted on the OTCQB under the
symbol “PLUUF” and the Frankfurt Exchange under the symbol 'QG1'.
The Company has 71,620,208 shares issued and outstanding.
For
further information, please contact: |
Plateau Energy Metals
Inc. |
Website: www.plateauenergymetals.com |
Alex Holmes, CEO &
Director |
Facebook: www.facebook.com/pluenergy/ |
+1-416-628-9600 |
Twitter: www.twitter.com/pluenergy/ |
info@plateauenergymetals.com |
|
Forward Looking InformationThis
news release includes certain forward-looking statements concerning
the completion of the Offering, the size of the Offering, the
Closing Date, the use of the proceeds from the Offering and the
Company’s plans with respect to its properties.
Forward-looking statements are frequently identified by such words
as "may", "will", "plan", "expect", "anticipate", "estimate",
"intend", “scheduled”, “subject”, “efforts”, “option” and similar
words referring to future events and results. Forward-looking
statements are based on the current opinions and expectations of
management. All forward-looking information is inherently uncertain
and subject to a variety of assumptions, risks and uncertainties,
including risks and uncertainties relating to the ability to
complete the Offering; the size of the Offering; the anticipated
Closing Date; receipt of all approvals required in connection with
the Offering; the use of the proceeds from the Offering;
interpretation of drill results, the geology, grade and continuity
of mineral deposits; the possibility that any future exploration,
development or mining results will not be consistent with our
expectations; mining and development risks, including risks related
to accidents, equipment breakdowns, labour disputes (including work
stoppages and strikes) or other unanticipated difficulties with or
interruptions in exploration and development; the potential for
delays in exploration or development activities; risks related to
commodity price and foreign exchange rate fluctuations; risks
related to foreign operations; the cyclical nature of the industry
in which we operate; risks related to failure to obtain adequate
financing on a timely basis and on acceptable terms or delays in
obtaining governmental approvals; risks related to environmental
regulation and liability; political and regulatory risks associated
with mining and exploration; risks related to the certainty of
title to our properties; risks related to the uncertain global
economic environment; and other risks and uncertainties related to
our prospects, properties and business strategy, as described in
more detail in Plateau Energy Metals’ recent securities filings
available at www.sedar.com. Actual events or results may differ
materially from those projected in the forward-looking statements
and Plateau cautions against placing undue reliance thereon.
Neither Plateau nor its management assume any obligation to revise
or update these forward-looking statements.
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.
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