Primary Energy Metals Inc. (formerly, Primary Cobalt Corp.) (CSE-PRIM) is pleased to announce that it has closed the first tranche of its private placement and has issued 16,767,800 units at a price of $0.075 per unit for gross proceeds of $1,257,585. Each “unit” consists of one common share and one transferable common share purchase warrant exercisable at a price of $0.15 for a period of twelve months.
No finders’ fees or commissions were payable in connection with completion of this tranche. The Company anticipates closing a further tranche of the placement shortly, and will provide additional information as soon as it becomes available.
About Primary Energy Metals Inc.
PRIMARY ENERGY METALS INC. is a listed junior exploration company and is engaged in the business of acquiring, exploring and developing ethically sourced Cobalt, Copper, Nickel, Vanadium, Uranium and Silver/Gold focused mineral resource properties to create value for its shareholders.
ACQUISITION FOCUS – Other projects Primary is investigating are in the clean energy sector. In this sector, the Company is focused specifically upon exploration opportunities to source green energy power minerals for use in battery production. Primary’s interests in this sector are guided by the following:
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