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Electric Metals (USA) Limited Announces Final Closing of Quail Bend Financing

Electric Metals (USA) Limited Announces Final Closing of Quail Bend Financing

Electric Metals(美国)有限公司宣布鹌鹑弯融资最终结束
newsfile ·  2023/10/11 01:20
  • EML obtains shareholder approval for creation of Quail Bend as "control person."
  • EML closes final tranche of Quail Bend financing for aggregate gross proceeds of $5,000,000.
  • Steve Durbin appointed to the Board of Directors.
  • EML获得股东批准将Quail Bend创建为“控制人”。
  • EML完成了Quail Bend融资的最后一批,总收益为500万美元。
  • 史蒂夫·德宾被任命为董事会成员。

Toronto, Ontario--(Newsfile Corp. - October 10, 2023) - Electric Metals (USA) Limited (TSXV: EML) (OTCQB: EMUSF) ("EML" or the "Company"), further to its press releases of August 29, 2023 and August 22, 2023 is pleased to announce it has closed the second and final tranche (the "Final Tranche") of its previously announced non-brokered financing (the "Offering"). Pursuant to the Final Tranche closing, the Company issued a total of 14,255,319 units (the "Units") at a price of $0.235 per Unit for gross proceeds of $3,349,999.97. Each Unit consisted of one common share in the capital of the Company (each, a "Common Share") and one share purchase warrant (each, a "Warrant") with each Warrant exercisable to acquire one additional Common Share at an exercise price of $0.35 for a period of 24 months from the date of issuance of the warrant, which may be cashlessly exercised subject to certain conditions.

安大略省多伦多-(Newsfile Corp.-2023年10月10日)-Electric Metals(USA)Limited(TSXV:EML) (OTCQB:EMUSF)(“EML“或”公司继2023年8月29日和2023年8月22日的新闻稿之后,很高兴地宣布,它已经完成了第二批也是最后一批(最后一批“)之前宣布的非经纪融资(The”供奉)。根据最后一期结算,本公司共发行14,255,319个单位(单位),每单位价格为0.235美元,总收益为3,349,999.97美元。每个单位由一股公司股本中的普通股组成(每股普通股)及一份股份认购权证(各一份搜查令“)每份可行使认股权证可于认股权证发行日期起计24个月内,按行权价0.35美元额外购入一股普通股,该认股权证可在若干条件下以无现金方式行使。

The Final Tranche closing was completed in connection with a binding letter of intent between the Company and Quail Bend LLC ("Quail Bend") dated May 12, 2023, as amended August 21, 2023 (the "LOI") pursuant to which Quail Bend, or an affiliate thereof, agreed to acquire up to 21,276,596 Units. Following an initial closing of 5,319,149 Units on June 16, 2023 and a further closing of an additional 1,702,128 Units on August 28, 2023, the Company and Quail Bend have now completed the purchase and sale of an aggregate of 21,276,596 Units for aggregate gross proceeds of $5,000,000.

本公司与Quail Bend LLC(“Quail Bend LLC”)签订了一份具有约束力的意向书,完成了最后一批交易。Quail Bend日期为2023年5月12日,经2023年8月21日修订(“意向书“),据此,本公司或其联属公司同意收购最多21,276,596个单位,继于2023年6月16日初步完成5,319,149个单位的买卖及于2023年8月28日进一步完成1,702,128个单位的买卖后,本公司及Quail Bend现已完成共21,276,596个单位的买卖,总收益达5,000,000元。

On closing of the Final Tranche, Quail Bend became a "Control Person" within the meaning of such term under applicable TSX Venture Exchange ("TSXV") policies and applicable securities laws. The Company called a meeting of shareholders which was held on October 5, 2023 at which a resolution approving the creation of Quail Bend and its affiliates as a new Control Person of the Company was passed by the disinterested shareholders of the Company.

在最后一批交易结束时,Quail Bend成为适用的多伦多证券交易所创业板(TSXV本公司于2023年10月5日召开股东大会,会上本公司无利害关系的股东通过了一项决议,批准将Quail Bend及其关联公司设立为本公司的新控制人。

A minimum of 80.0% of the funds raised from proceeds of the Offering from Quail Bend will be used on development of the Company's Emily Manganese Project in Minnesota, USA including metallurgical and battery test work, process design, an updated NI 43-101 resource report, and advancing environmental and other technical studies. The Offering is subject to the receipt of the final approval of the TSXV.

从Quail Bend募集的资金中,至少有80.0%将用于开发公司在美国明尼苏达州的艾米莉锰矿项目,包括冶金和电池测试工作、工艺设计、最新的NI 43-101资源报告,以及推进环境和其他技术研究。是次发售须待收到TSXV的最终批准后方可进行。

As a result of the Final Tranche closing, the Company has granted to Quail Bend certain investor rights pursuant to an investor rights agreement (the "IRA") which it will retain so long as it controls 10.0% or more of the issued and outstanding Common Shares and which includes the following: the Company has increased the number of directors to six and has appointed Steve Durbin as a director of the Company as Quail Bend's nominee; Quail Bend will have the right to participate in any future public or private equity financing by the Company to maintain its pro rata ownership interest in EML, and to potentially increase its ownership interest, to the extent there is additional room in the relevant financing; and each of Gary Lewis and Henry Sandri entered into lockup agreements pursuant to which they agree not to sell any securities of EML they own or control, except in certain circumstances and agreed not to compete with the Company in any manganese project in North America for a period of 12 months. In accordance with the terms of the LOI and the IRA, Mr. Durbin has been awarded 1,500,000 stock options of the company, effective on the second business day after the date of public disclosure of the closing of the Offering and related matters, at an exercise price that is the greater of (i) C$0.25, (ii) the lowest price permitted by the TSXV, and (iii) the lowest price permitted by the Company's stock option plan, which options are exercisable for a period of 5 years from the date of grant. 1,000,000 of the Options shall vest and be exercisable immediately upon the grant thereof and 500,000 of the Options shall vest and be exercisable in the event that the volume weighted average price of the common shares of the Company on the TSXV exceeds C$0.50 per share for any 20 consecutive trading days.

作为最后一批交易结束的结果,本公司已根据投资者权利协议(“投资者权利协议”)向Quail Bend授予若干投资者权利。****“)只要它控制着已发行和已发行普通股的10.0%或更多,它就会保留这些股份,这包括:公司将董事人数增加到6人,并任命史蒂夫·德宾为公司的董事的被提名人;在相关融资中有更多空间的情况下,公司将有权参与公司未来的任何公共或私人股权融资,以维持其在EML的按比例所有权权益,并有可能增加其所有权权益;及Gary Lewis及Henry Sandri各自订立锁定协议,据此,彼等同意不出售其拥有或控制的EML的任何证券,除非在某些情况下,并同意在12个月内不会在北美的任何锰矿项目上与本公司竞争。根据意向书及利率协议的条款,德宾先生获授予本公司1,500,000份购股权,于公开披露发售及相关事宜完成日期后第二个营业日生效,行权价为(I)0.25加元、(Ii)多伦多证券交易所许可的最低价格及(Iii)本公司购股权计划所允许的最低价格,该等购股权可于授出日期起计五年内行使。1,000,000份购股权将归属并可于授出后立即行使,而500,000份购股权将归属并可于任何连续20个交易日内本公司普通股在多伦多证券交易所的成交量加权平均价超过每股0.50加元的情况下行使。

The summary of the LOI in this press release is qualified in its entirety by the full text of the LOI, as amended, and the IRA, each of which can be accessed on under the Company's profile. Please refer to the LOI for more information in respect of the Offering.

本新闻稿中的意向书摘要由修订后的意向书全文和个人退休协会全文限定,每一项都可在公司简介下查阅。有关此次发售的更多信息,请参阅意向书。

The securities issued in connection with the first tranche of the Offering are subject to certain hold periods and/or such other further restrictions as may apply under foreign securities laws.

与第一批发行相关的证券受某些持有期和/或根据外国证券法可能适用的其他进一步限制的限制。

Early Warning

预警

Green Mineral Investors LLC ("GMI"), together with its sole manager Mr. Steve Durbin, each of 336 Loring Ave., Los Angeles, California 90024 United States, report that on October 6, 2023, further to a binding letter of intent between Electric Metals (USA) Limited ("EML") and Quail Bend LLC dated May 12, 2023, a copy of which is available under EML's profile on SEDAR+ at , GMI acquired 14,255,319 units of EML ("Units") at a price per Unit of C$0.235 for an aggregate purchase price of C$3,349,999.97 pursuant to a private placement of EML (the "Closing"). The acquired Units are comprised of an aggregate of 14,255,319 common shares ("Shares") and 14,255,319 Share purchase warrants ("Warrants") of EML. Each Warrant is exercisable to acquire one additional Share at an exercise price of C$0.35 for a period of 24 months from issuance. The acquisition of the Shares and Warrants did not take place across the facilities of any market.

绿色矿产投资者有限责任公司(“GMI),连同其唯一经理Steve Durbin先生,分别在美国加利福尼亚州洛杉矶洛林大道336号,加利福尼亚州90024号,报告,2023年10月6日,继Electric Metals(USA)Limited(EML)和日期为2023年5月12日的Quail Bend LLC,其副本可在EML在SEDAR+上的个人资料中获得,GMI收购了14,255,319台EML(“单位“)以每单位0.235加元的价格出售,总收购价为3,349,999.97加元。结业收购单位包括合共14,255,319股普通股(“股票“)及14,255,319份认购权证(”认股权证每份认股权证可于发行起计24个月内,以0.35加元的行使价额外购入一股。股份及认股权证的收购并无跨越任何市场的设施进行。

Immediately prior to the Closing, (i) Steve Durbin, sole manager of GMI, held 2,311,000 Shares representing approximately 1.77% of the then-issued and outstanding Shares on a non-diluted basis prior to the Closing and no other securities of EML, and (ii) GMI held 7,021,277 Shares representing approximately 5.38% (approximately 7.15% cumulatively with Steve Durbin) of the then-issued and outstanding Shares on a non-diluted basis prior to the Closing, 7,021,277 Warrants representing approximately 31.56% of the then-issued and outstanding Warrants prior to the Closing (10.21% on a post-conversion basis assuming only the exercise of the Warrants then held by GMI; 11.90% on a post-conversion basis assuming only the exercise of the Warrants held by GMI and aggregated with the Share holdings of Mr. Steve Durbin) and no other securities of EML.

紧接收市前,(I)GMI单一经理Steve Durbin持有2,311,000股股份,按非摊薄基准持有当时已发行及已发行流通股约1.77%,且无其他EML证券,及(Ii)GMI持有7,021,277股股份,占当时已发行及流通股约5.38%(Steve Durbin累计约7.15%),7,021,277份认股权证,约占结算前已发行及尚未发行的认股权证的31.56%(在转换后的基础上占10.21%,假设当时由GMI持有的认股权证已行使;换股后基准为11.90%,假设仅行使GMI持有并与Steve Durbin先生的股份合计的认股权证),并无EML的其他证券。

Immediately following the Closing, (i) Steve Durbin, sole manager of GMI, held 2,311,000 Shares representing approximately 1.60% of the issued and outstanding Shares on a non-diluted basis immediately following the Closing and no other securities of EML, and (ii) GMI held 21,276,596 Shares representing approximately 14.70% (approximately 16.30% cumulatively with Steve Durbin) of the issued and outstanding Shares on a non-diluted basis immediately following the Closing, 21,276,596 Warrants representing approximately 58.29% of the issued and outstanding Warrants immediately following the Closing (25.64% on a post-conversion basis assuming only the exercise of the Warrants held by GMI; 27.03% on a post-conversion basis assuming only the exercise of the Warrants held by GMI and aggregated with the Share holdings of Mr. Steve Durbin) and no other securities of EML.

紧接交易结束后,(I)GMI单一经理Steve Durbin持有2,311,000股股份,相当于紧接交易结束后已发行及流通股约1.60%,且并无其他证券;及(Ii)GMI持有21,276,596股股份,占紧接交易后已发行及已发行认股权证约14.70%(与Steve Durbin累计约16.30%),21,276,596股认股权证,占紧接交易完成后已发行及已发行认股权证约58.29%(假设仅行使GMI持有的认股权证,按转换后基准计算为25.64%);换股后基准为27.03%,假设仅行使GMI持有并与Steve Durbin先生的股份合计的认股权证),并无EML的其他证券。

As a result of the Closing, the securityholding percentage of GMI increased by approximately 9.32% in respect of the Shares and 26.73% in respect of the Warrants.

结算后,GMI的证券持有百分比就股份及认股权证分别增加约9.32%及26.73%。

GMI has acquired the Shares and Warrants for investment purposes. GMI may in the future take such actions in respect of its holdings in EML as GMI may deem appropriate in light of the circumstances then existing, including the purchase of additional securities of EML through open market purchases or privately negotiated transactions or the sale of all or a portion of GMI's holdings in the open market or in privately negotiated transactions to one or more purchasers, subject in each case to applicable securities law.

GMI出于投资目的收购了这些股份和认股权证。GMI未来可根据当时存在的情况,就其持有的EML采取GMI认为适当的行动,包括通过公开市场购买或私下谈判交易购买额外的EML证券,或在公开市场或私下谈判交易中向一名或多名买家出售GMI持有的全部或部分股票,每种情况均受适用证券法的约束。

A copy of the early warning report to which this news release relates can be obtained from Steve Durbin at (917) 622-5200 or on EML's SEDAR+ profile at .

与本新闻稿相关的预警报告的副本可通过Steve Durbin电话(917)622-5200获取,或通过EML的SEDAR+档案获取,网址为:。

About Electric Metals (USA) Limited
Electric Metals (USA) Limited (TSXV: EML) (OTCQB: EMUSF) 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 over 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 development of the Emily Manganese Project represents a significant opportunity for America, the State of Minnesota and 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.

关于电工金属(美国)有限公司
电力金属(美国)有限公司(多伦多证券交易所股票代码:EML)(场外交易市场代码:EMUSF)是一家总部位于美国的矿产开发公司,其锰和银项目旨在支持向清洁能源的过渡。该公司的主要资产是明尼苏达州的艾米莉锰矿项目,该项目已进行了大量的技术研究,包括一份《国家仪器43-101技术报告-资源估计》,迄今已投资超过2,600万美元。该公司在明尼苏达州的使命是成为美国国内高纯度、高价值的锰金属和化工产品生产商,供应美国能源、技术和工业市场。鉴于锰在锂离子电池配方中扮演着关键而突出的角色,加上目前国内没有锰矿供应,也没有北美活跃的锰矿,艾米丽锰矿项目的开发对美国、明尼苏达州和本公司的股东来说是一个重大的机遇。此外,该公司还拥有并运营内华达州的Corcoran银金项目和Belmont银矿项目,前者也是美国国家仪器43-101《技术报告-资源估计》的主题。

For further information, please contact:

如需更多信息,请联系:

Electric Metals (USA) Limited

电工金属(美国)有限公司

Gary Lewis
CEO & Director
T: +1 (647) 846 5299
Email: gl@electricmetals.com

加里·刘易斯
首席执行官兼董事
电话:+1(647)846 5299
电子邮件:gl@Electricmetals.com

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.

多伦多证券交易所创业板交易所及其监管服务提供商(该术语在多伦多证券交易所的政策中定义)均不对本新闻稿的充分性或准确性承担责任。

Forward-Looking Information

前瞻性信息

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could," "estimates," "expects," "forecasts," "projects" and similar expressions, and the negative of such expressions.

本新闻稿包含适用证券法定义的“前瞻性信息”和“前瞻性陈述”(统称为“前瞻性信息”)。前瞻性信息一般可以通过使用“相信”、“可能”、“计划”、“将”、“预期”、“打算”、“可能”、“估计”、“预期”、“预测”、“项目”和类似的表述以及这些表述的否定来识别。

Forward-looking statements in this news release include, but are not limited to, statements with respect to the use of proceeds of the Final Tranche closing. These statements address future events and conditions and so involve inherent risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such risks include, but are not limited to, the failure to obtain all necessary stock exchange and regulatory approvals. Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and perception of trends, current conditions and expected developments, and other factors that management believes are relevant and reasonable in the circumstances at the date such statements are made. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.

本新闻稿中的前瞻性陈述包括但不限于与最终部分结算收益的使用有关的陈述。这些表述涉及未来的事件和情况,因此涉及固有的风险、不确定因素和其他因素,这些因素可能导致实际事件或结果与此类前瞻性表述中暗示或表述的估计或预期事件或结果大不相同。此类风险包括但不限于未能获得所有必要的证券交易所和监管部门的批准。前瞻性资料乃基于管理层根据其对趋势、现状及预期发展的经验及认知而作出的合理假设、估计、分析及意见,以及管理层认为在作出该等陈述当日的情况下属相关及合理的其他因素。尽管公司试图确定可能导致实际结果与前瞻性信息中包含的结果大不相同的重要因素,但可能还有其他因素导致结果与预期的不同。不能保证这些信息将被证明是准确的,因为实际结果和未来事件可能与这些信息中预期的大不相同。因此,读者不应过分依赖前瞻性信息。

All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events, or developments, except as required by law.

本文中的所有前瞻性信息都受本警示声明的约束,公司没有义务修改或更新任何此类前瞻性信息,也没有义务公开宣布对本文中包含的任何前瞻性信息的任何修改结果,以反映未来的结果、事件或发展,除非法律另有要求。

Certain information under "Early Warning" has been furnished by third parties. The Company takes no responsibility for the adequacy or accuracy of such information.

第三方提供了“预警”项下的某些信息。本公司对此类信息的充分性或准确性不承担任何责任。

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

不得在美国境内传播,也不得通过美国新闻网传播。

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

要查看本新闻稿的源版本,请访问

译文内容由第三方软件翻译。


以上内容仅用作资讯或教育之目的,不构成与富途相关的任何投资建议。富途竭力但不能保证上述全部内容的真实性、准确性和原创性。
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