|Pure Energy Minerals - PE.v is advancing the flagship Clayton Valley South lithium brine project, located in Clayton Valley, Nevada.|
Clayton Valley South contains an NI 43-101 inferred resource of 816,000 LCE.
Pure Energy Minerals Limited (TSX VENTURE: PE) (FRANKFURT: A111EG) (OTCQB: HMGLF) (the “Company” or “Pure Energy”) is pleased to announce the closing of its previously announced best efforts private placement of Units (the “Offering”), for aggregate gross proceeds of $6,161,046. Including the full exercise of the over-allotment option, the Company issued a total of 11,201,902 Units at a price of $0.55 per Unit. The Offering was brokered by a syndicate led by Dundee Securities Ltd., and including Echelon Wealth Partners Inc. and Haywood Securities Inc. (collectively, the “Agents”).
The Company intends to use the net proceeds of the Offering for exploration and engineering work on the Clayton Valley South (“CVS”) Project, working capital and general corporate purposes.