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Electric Metals (USA) Limited ("EML") Announces Non-Brokered Financing

Electric Metals (USA) Limited ("EML") Announces Non-Brokered Financing

電氣金屬(美國)有限公司(“EML”)宣佈非經紀融資
newsfile ·  2023/05/16 21:08
  • Issue up to 26,595,746 Units (assuming a Unit price of $0.235, proceeds of approximately $6,250,000 - see below for more detailed information).
  • EML insiders to participate along with Quail Bend LLC ("Quail Bend").
  • New funding will allow EML to expedite exploration drilling, metallurgical and battery test work and to initiate process design and preliminary mine studies at the high-grade Emily Manganese Project, Minnesota, U.S.
  • 發行最多26,595,746個單位(假設單價為0.235美元,收益約為6,250,000美元-更詳細的資訊見下文)。
  • EML內部人士與Quail Bend LLC(“Quail Bend”)一起參與。
  • 新的資金將使EML能夠加快勘探鑽探、冶金和電池測試工作,並啟動美國明尼秀克達州高品位艾米莉錳礦專案的工藝設計和初步礦山研究。

Toronto, Ontario--(Newsfile Corp. - May 16, 2023) - Electric Metals (USA) Limited (TSXV: EML) ("EML" or the "Company"), is pleased to announce a non-brokered financing of up to 26,595,746 units of the Company (the "Units") (the "Offering"). Each Unit will consist of one common share in the capital of the Company (each, a "Common Share") and one share purchase warrant (each, a "Warrant") exercisable to acquire one additional Common Share for a period of 24 months from the date of issuance of the Unit.

安大略省多倫多-(Newsfile Corp.-2023年5月16日)-Electric Metals(USA)Limited(多倫多證券交易所股票代碼:EML)(以下簡稱“EML”或“公司”)高興地宣佈,將以非仲介方式向公司(以下簡稱“單位”)提供至多26,595,746個單位的融資(以下簡稱“單位”)。供奉)。每個單位將由公司股本中的一股普通股組成(每股普通股)及一份股份認購權證(各一份搜查令“)可行使購入額外一股普通股的權利,為期24個月,由本單位發行之日起計。

In connection with the Offering, the Company has entered into a binding letter of intent with Quail Bend dated May 12, 2023 (the "LOI") pursuant to which Quail Bend will participate in the Offering and acquire up to 21,276,596 Units or up to a 16.7% ownership interest in the Company (the "Strategic Investment").

關於是次發售,本公司已於2023年5月12日與Quail Bend訂立具約束力的意向書(“意向書“)據此,Quail Bend將參與發售,並收購最多21,276,596個單位或本公司最多16.7%的所有權權益(”戰略投資“)。

The LOI provides that the Quail Bend portion of the Offering will close in multiple tranches. The first closing shall occur on or before June 15, 2023 (the "First Closing") and shall be for an amount of Units purchased to be determined by Quail Bend subject to a minimum of 5,319,150 Units for minimum proceeds of not less than C$1,250,000.25 and a maximum number of Units which does not result in Quail Bend becoming a "Control Person" as defined by the policies of the TSX Venture Exchange (the "TSXV"). The First Closing is also expected to include the subscription of 5,319,150 Units by certain insiders of the Company and other third parties mutually acceptable to the Parties. The purchase price for the Units sold in the First Closing will be $0.235 per Unit. Each Warrant partially comprising the Units issued pursuant to the First Closing will be exercisable at a price of $0.35 per share for a period of 24 months following the distribution thereof.

意向書規定,此次發行的Quail Bend部分將分多批結束。首次關閉日期為2023年6月15日或之前(“首次成交“),購買的單位數量由Quail Bend決定,最低收益不低於1,250,000.25加元,最低單位數為5,319,150單位,最高單位數不會導致Quail Bend成為多倫多證券交易所創業板(The TSX Venture Exchange)政策所定義的”控制人“。TSXV首次成交預計亦包括由本公司若干內部人士及各方共同接受的其他第三方認購5,319,150個單位。首次成交售出的單位的收購價將為每單位0.235美元。根據第一次成交而發行的每份認股權證,在派發後24個月內可按每股0.35美元的價格行使。

The second closing ("Second Closing") shall be completed in one or more tranches on or prior to September 30, 2023 with any tranche otherwise causing Quail Bend to become a "Control Person" to be completed within five (5) Business Days after receipt of shareholder approval permitting Quail Bend to become a "Control Person". The Second Closing shall be for (i) Equity Units priced at the greater of (a) C$0.235 (with the exercise price of the Warrant being C$0.35 per share), or (b) the lowest sale price and exercise price, respectively, permitted by the TSXV or any applicable regulatory authority; and (ii) an amount of Equity Units not exceeding in the aggregate the difference between 21,276,596 and the number of Equity Units subscribed for by Quail Bend in the First Closing.

第二個結束語(“二次收盤)應於2023年9月30日或之前分一批或多批完成,而任何其他導致Quail Bend成為“控制人”的部分應在收到允許Quail Bend成為“控制人”的股東批准後五(5)個工作日內完成。第二次平倉將適用於(I)以(A)0.235加元(認股權證的行權價為每股0.35加元)或(B)多倫多證券交易所或任何適用監管機構分別準許的最低售價及行使價中較大者定價的權益單位;及(Ii)總金額不超過21,276,596與Quail Bend於第一次平倉時認購的權益單位數目之間的差額的權益單位。

In connection with the Strategic Investment and subject to Quail Bend acquiring a minimum of 13,000,000 Units pursuant to the Offering, EML has agreed to grant Quail Bend certain investor rights which it will retain so long as it controls 10.0% or more of the issued and outstanding Common Shares and which will include the following:

在戰略投資方面,在Quail Bend根據此次發售獲得至少13,000,000個單位的情況下,EML已同意授予Quail Bend某些投資者權利,只要它控制10.0%或更多的已發行和已發行普通股,這些權利將包括:

  • Quail Bend will fill a newly-created sixth board seat with its nominee and will receive the right to nominate a director for election as a Company nominee at each shareholder meeting of the Company.
  • Quail Bend will have the right to participate in any public or private equity financing by the Company to maintain its pro rata ownership interest in the Company, and to potentially increase its ownership interest in the Company, to the extent there is additional room in the relevant financing.
  • Quail Bend將用它的被提名人填補新設立的第六個董事會席位,並將有權提名一名董事在公司每次股東大會上作為公司被提名人進行選舉。
  • Quail Bend將有權參與本公司的任何公共或私募股權融資,以維持其在本公司的按比例擁有權益,並有可能增加其在本公司的所有權權益,前提是相關融資有額外空間。

The LOI provides that a minimum of 80.0% of the funds raised from proceeds of the Offering from Quail Bend will be used on further exploration and development of the Company's Emily Manganese Project in Minnesota, USA including continued exploration drilling, metallurgical and battery test work and process design and preliminary mine studies.

意向書規定,從Quail Bend募集的資金中,至少有80.0%將用於公司位於美國明尼秀克達州的Emily錳礦專案的進一步勘探和開發,包括繼續勘探鑽探、冶金和電池測試工作以及工藝設計和初步礦山研究。

Comments

評論

EML CEO Gary Lewis commented, "With drilling at the high-grade Emily Manganese Project continuing, we are looking to fast-track a number of other project-related activities including a resource upgrade, metallurgical and battery test work, process design and preliminary mine studies. The additional funding provided by Quail Bend and the EML insiders will provide certainty in this regard and potentially cut months off our previously determined timeline. We also expect that the addition of a strategic investor of the caliber of Quail Bend will allow the Company to advance discussions with US Federal and State governments".

EML首席執行官加裡·劉易斯評論說:“隨著高品位艾米麗錳礦專案的鑽探繼續進行,我們希望加快推進其他一些與專案相關的活動,包括資源升級、冶金和電池測試工作、工藝設計和初步礦山研究。Quail Bend和EML內部人士提供的額外資金將在這方面提供確定性,並可能使我們之前確定的時間表縮短數月。我們還預計,增加一位具有Quail Bend能力的戰略投資者將使公司能夠推進與美國聯盟和州政府的討論。”

Steve Durbin, President of Quail Bend, commented: "I couldn't be more thrilled to be an investor in such an exciting project. We believe that the combination of size, grade, and location of the Company's deposit are unmatched in North America and provide the foundation for the Company to potentially become one of the preeminent suppliers to the domestic EV battery market. What's even more astonishing is that high purity manganese is currently 100% imported from overseas, so in addition to enjoying substantial geological and locational competitive advantages, the resource also has national strategic value, which will certainly be an important factor in the Company's journey towards production."

Quail Bend的總裁表示:“我非常高興能成為這樣一個令人興奮的專案的投資者。我們相信,公司礦藏的規模、品位和位置在北美是無與倫比的,這為公司成為國內電動汽車電池市場的優秀供應商之一奠定了基礎。更令人驚訝的是,目前高純度的錳是100%從海外進口的,因此,除了享有可觀的地理和區位競爭優勢外,這種資源還具有國家戰略價值,這肯定是公司邁向生產之路的重要因素。”

Closing of the Offering is subject to customary closing conditions, including the negotiation of definitive Unit purchase agreements and an investor rights agreement, receipt of all required regulatory approvals, the availability of prospectus and registration exemptions and approval of the TSXV and where applicable, Company shareholders.

完成發售須遵守慣常的成交條件,包括談判最終的單位購買協定及投資者權益協定、收到所有所需的監管批准、招股說明書及註冊豁免及本公司股東(如適用)的批准。

The summary of the LOI in this press release is qualified in its entirety by the full text of the LOI which can be accessed on under the Company's profile.

本新聞稿中對意向書的摘要由完整的意向書全文限定,可在公司簡介下查閱。

Any securities to be issued under the Offering will be subject to a hold period of four months and a day in Canada from the closing date of the Offering in accordance with the rules and policies of the TSXV and applicable Canadian securities laws and/or such other further restrictions as may apply under foreign securities laws.

根據發售發行的任何證券,根據多倫多證券交易所的規則和政策及適用的加拿大證券法和/或根據外國證券法可能適用的其他進一步限制,自發售結束日起在加拿大的持有期為四個月零一天。

It is anticipated that certain subscribers under the First Tranche will be insiders of the Company. The issuance of Units to insiders of the Company pursuant to the First Tranche will be considered related party transactions within the meaning of TSXV Policy 5.9 - Protection of Minority Security Holders in Special Transactions and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). For the First Tranche, the Company intends to rely on the exemption from the formal valuation requirements contained in Section 5.5(a) of MI 61-101 and the exemption from the minority shareholder requirements contained in 5.7(1)(a) of MI 61-101, as neither the fair market value of any securities issued to or the consideration paid by such insiders will exceed 25% of the Company's market capitalization.

預計第一批股份的某些認購人將為本公司的內部人士。根據第一批向本公司內部人士發行單位,將被視為聯營公司政策5.9-在特別交易中保護少數族裔證券持有人及多邊文書61-101-特別交易中少數族裔證券持有人保護(“MI 61-101”)所指的關聯方交易。對於第一批,本公司擬依據MI 61-101第5.5(A)節所載的正式估值要求的豁免和MI 61-101的5.7(1)(A)條所載的少數股東要求的豁免,因為向該等內部人士發行的任何證券的公平市值或由該等內部人士支付的代價均不會超過公司市值的25%。

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

本新聞稿不構成在美國出售任何證券的要約或邀請出售任何證券的要約。這些證券沒有也不會根據修訂後的《1933年美國證券法》(以下簡稱《美國證券法》)或任何州證券法進行登記,除非根據《美國證券法》和適用的州證券法登記,或獲得此類登記豁免,否則不得在美國境內或向美國公民發行或出售證券。

About Electric Metals (USA) Limited

關於電工金屬(美國)有限公司

Electric Metals (USA) Limited (TSXV: EML) is a U.S.-based mineral development company with manganese and silver projects geared to supporting the transition to clean energy. The Company's principal asset is the Emily Manganese Project in Minnesota, which has been the subject of considerable technical studies, including a National Instrument 43-101 Technical Report - Resource Estimate, with US$26 million invested to date. The Company's mission in Minnesota is to become a domestic U.S. producer of high-purity, high-value manganese metal and chemical products for supply to U.S. energy, technology and industrial markets. With manganese playing a critical and prominent role in lithium-ion battery formulations, and with no current domestic supply or active mines for manganese in North America, the exploration and development of the Emily Manganese Project represents a significant opportunity for the Company's shareholders. In addition, the Company owns and operates the Corcoran Silver-Gold Project and the Belmont Silver Project in Nevada, with the former also having been the subject of a National Instrument 43-101 Technical Report - Resource Estimate.

電力金屬(美國)有限公司(多倫多證券交易所股票代碼:EML)是一家總部位於美國的礦產開發公司,其錳和銀專案旨在支持向清潔能源的過渡。該公司的主要資產是明尼秀克達州的艾米莉錳礦專案,該專案進行了大量的技術研究,包括一份《國家儀器43-101技術報告-資源估計》,迄今已投資2,600萬美元。該公司在明尼秀克達州的使命是成為美國國內的高純度、高價值金屬錳和化工產品生產商,供應美國能源、技術和工業市場。鑑於錳在鋰離子電池配方中的關鍵和突出作用,加上目前國內沒有錳礦供應,也沒有北美活躍的錳礦,艾米麗錳礦專案的勘探和開發對本公司的股東來說是一個重大機遇。此外,該公司還擁有並運營內華達州的Corcoran銀金專案和Belmont銀礦專案,前者也是美國國家儀器43-101《技術報告-資源估計》的主題。

Neither the 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.

多倫多證券交易所創業板交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。

For further Information please contact:
Gary Lewis, CEO & Director: (647) 846 5299 - gl@electricmetals.com

如需更多資訊,請聯繫:
董事首席執行官加裡·劉易斯電話:(647)846 5299-gl@Electricmetals.com

Caution Regarding Forward-Looking Information

有關前瞻性資訊的警告

Certain statements contained in this news release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on EML's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this news release contains forward-looking information relating to, among other things, the completion of the Strategic Investment, the completion of the First Closing, the completion of the Second Closing, the completion of the Offering, the use of proceeds of the Offering, the operations of the Company, approval by the TSXV and any other regulatory bodies and shareholder approval. Those assumptions and factors are based on information currently available to EML. Although such statements are based on reasonable assumptions of EML's management, there can be no assurance that any conclusions or forecasts will prove to be accurate.

本新聞稿中包含的某些陳述屬於前瞻性資訊。這些陳述與未來的事件或未來的表現有關。使用“可能”、“打算”、“預期”、“相信”、“將會”、“預計”、“估計”以及與非歷史事實有關的類似表述和陳述,意在識別前瞻性資訊,並基於EML對此類未來事件的結果和時機的當前信念或假設。未來的實際結果可能會有很大不同。特別是,本新聞稿包含與完成戰略投資、完成第一筆交易、完成第二筆交易、完成發售、發售所得款項的使用、本公司的運營、獲得多倫多證券交易所和任何其他監管機構的批准以及股東批准等有關的前瞻性資訊。這些假設和因素是基於EML目前掌握的資訊。儘管這樣的陳述是基於對EML管理層的合理假設,但不能保證任何結論或預測將被證明是準確的。

While EML considers these statements to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include market risks and the demand for securities of the Company, risks inherent in the exploration and development of mineral deposits, including risks relating to changes in project parameters as plans continue to be redefined, risks relating to variations in grade or recovery rates, risks relating to changes in mineral prices and the worldwide demand for and supply of minerals, risks related to increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, and regulatory risks, including risks relating to the acquisition of the necessary licenses and permits, financing, capitalization and liquidity risks.

雖然EML認為,根據現有資訊,這些陳述是合理的,但它們可能被證明是不正確的。前瞻性資訊涉及已知和未知的風險、不確定性和其他因素,可能導致實際結果、業績或成就與前瞻性資訊明示或暗示的任何未來結果、業績或成就大不相同。該等因素包括市場風險及對本公司證券的需求、勘探及開發礦藏所固有的風險,包括與計劃不斷重新界定的專案參數改變有關的風險、與品位或回收率變動有關的風險、與礦產品價格及全球礦產供求變化有關的風險、與競爭加劇及當前全球金融狀況有關的風險、準入及供應風險、對主要人員的依賴、經營風險及監管風險,包括與取得所需許可證及許可證有關的風險、融資、資本化及流動資金風險。

The forward-looking information contained in this news release is made as of the date hereof, and EML is not obligated, and does not undertake, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

本新聞稿中包含的前瞻性資訊是截至本文發佈之日的,除非適用的證券法要求,否則EML沒有義務也不承擔因新資訊、未來事件或其他原因而更新或修改任何前瞻性資訊。由於本文包含的風險、不確定性和假設,投資者不應過度依賴前瞻性資訊。上述陳述明確表示,本文中包含的任何前瞻性資訊都是合格的。

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWS WIRES

不在美國境內傳播,也不通過美國新聞網傳播

To view the source version of this press release, please visit

要查看本新聞稿的源版本,請訪問

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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