share_log

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

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

Electric Metals(美國)有限公司宣佈鵪鶉彎融資最終結束
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獲得股東批准將Quail Bend創建為“控制人”。
  • EML完成了Quail Bend融資的最後一批,總收益為500萬美元。
  • 史蒂夫·德賓被任命為董事會成員。

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.

安大略省多倫多-(Newsfile Corp.-2023年10月10日)-Electric Metals(USA)Limited(TSXV:EML) (OTCQB:EMUSF)(“EML“或”公司繼2023年8月29日和2023年8月22日的新聞稿之後,很高興地宣佈,它已經完成了第二批也是最後一批(最後一批“)之前宣佈的非經紀融資(The”供奉)。根據最後一期結算,本公司共發行14,255,319個單位(單位),每單位價格為0.235美元,總收益為3,349,999.97美元。每個單位由一股公司股本中的普通股組成(每股普通股)及一份股份認購權證(各一份搜查令“)每份可行使認股權證可於認股權證發行日期起計24個月內,按行權價0.35美元額外購入一股普通股,該認股權證可在若干條件下以無現金方式行使。

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.

本公司與Quail Bend LLC(“Quail Bend LLC”)簽訂了一份具有約束力的意向書,完成了最後一批交易。Quail Bend日期為2023年5月12日,經2023年8月21日修訂(“意向書“),據此,本公司或其聯屬公司同意收購最多21,276,596個單位,繼於2023年6月16日初步完成5,319,149個單位的買賣及於2023年8月28日進一步完成1,702,128個單位的買賣後,本公司及Quail Bend現已完成共21,276,596個單位的買賣,總收益達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.

在最後一批交易結束時,Quail Bend成為適用的多倫多證券交易所創業板(TSXV本公司於2023年10月5日召開股東大會,會上本公司無利害關係的股東通過了一項決議,批准將Quail Bend及其關聯公司設立為本公司的新控制人。

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.

從Quail Bend募集的資金中,至少有80.0%將用於開發公司在美國明尼秀克達州的艾米莉錳礦專案,包括冶金和電池測試工作、工藝設計、最新的NI 43-101資源報告,以及推進環境和其他技術研究。是次發售須待收到TSXV的最終批准後方可進行。

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.

作為最後一批交易結束的結果,本公司已根據投資者權利協定(“投資者權利協定”)向Quail Bend授予若干投資者權利。****“)只要它控制著已發行和已發行普通股的10.0%或更多,它就會保留這些股份,這包括:公司將董事人數增加到6人,並任命史蒂夫·德賓為公司的董事的被提名人;在相關融資中有更多空間的情況下,公司將有權參與公司未來的任何公共或私人股權融資,以維持其在EML的按比例所有權權益,並有可能增加其所有權權益;及Gary Lewis及Henry Sandri各自訂立鎖定協定,據此,彼等同意不出售其擁有或控制的EML的任何證券,除非在某些情況下,並同意在12個月內不會在北美的任何錳礦專案上與本公司競爭。根據意向書及利率協定的條款,德賓先生獲授予本公司1,500,000份購股權,於公開披露發售及相關事宜完成日期後第二個營業日生效,行權價為(I)0.25加元、(Ii)多倫多證券交易所許可的最低價格及(Iii)本公司購股權計劃所允許的最低價格,該等購股權可於授出日期起計五年內行使。1,000,000份購股權將歸屬並可於授出後立即行使,而500,000份購股權將歸屬並可於任何連續20個交易日內本公司普通股在多倫多證券交易所的成交量加權平均價超過每股0.50加元的情況下行使。

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.

本新聞稿中的意向書摘要由修訂後的意向書全文和個人退休協會全文限定,每一項都可在公司簡介下查閱。有關此次發售的更多資訊,請參閱意向書。

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.

與第一批發行相關的證券受某些持有期和/或根據外國證券法可能適用的其他進一步限制的限制。

Early Warning

預警

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.

綠色礦產投資者有限責任公司(“GMI),連同其唯一經理Steve Durbin先生,分別在美國加利福尼亞州洛杉磯洛林大道336號,加利福尼亞州90024號,報告,2023年10月6日,繼Electric Metals(USA)Limited(EML)和日期為2023年5月12日的Quail Bend LLC,其副本可在EML在SEDAR+上的個人資料中獲得,GMI收購了14,255,319臺EML(“單位“)以每單位0.235加元的價格出售,總收購價為3,349,999.97加元。結業收購單位包括合共14,255,319股普通股(“股票“)及14,255,319份認購權證(”認股權證每份認股權證可於發行起計24個月內,以0.35加元的行使價額外購入一股。股份及認股權證的收購並無跨越任何市場的設施進行。

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.

緊接收市前,(I)GMI單一經理Steve Durbin持有2,311,000股股份,按非攤薄基準持有當時已發行及已發行流通股約1.77%,且無其他EML證券,及(Ii)GMI持有7,021,277股股份,佔當時已發行及流通股約5.38%(Steve Durbin累計約7.15%),7,021,277份認股權證,約佔結算前已發行及尚未發行的認股權證的31.56%(在轉換後的基礎上佔10.21%,假設當時由GMI持有的認股權證已行使;換股後基準為11.90%,假設僅行使GMI持有並與Steve Durbin先生的股份合計的認股權證),並無EML的其他證券。

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.

緊接交易結束後,(I)GMI單一經理Steve Durbin持有2,311,000股股份,相當於緊接交易結束後已發行及流通股約1.60%,且並無其他證券;及(Ii)GMI持有21,276,596股股份,佔緊接交易後已發行及已發行認股權證約14.70%(與Steve Durbin累計約16.30%),21,276,596股認股權證,佔緊接交易完成後已發行及已發行認股權證約58.29%(假設僅行使GMI持有的認股權證,按轉換後基準計算為25.64%);換股後基準為27.03%,假設僅行使GMI持有並與Steve Durbin先生的股份合計的認股權證),並無EML的其他證券。

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.

結算後,GMI的證券持有百分比就股份及認股權證分別增加約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出於投資目的收購了這些股份和認股權證。GMI未來可根據當時存在的情況,就其持有的EML採取GMI認為適當的行動,包括通過公開市場購買或私下談判交易購買額外的EML證券,或在公開市場或私下談判交易中向一名或多名買家出售GMI持有的全部或部分股票,每種情況均受適用證券法的約束。

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 .

與本新聞稿相關的預警報告的副本可通過Steve Durbin電話(917)622-5200獲取,或通過EML的SEDAR+檔案獲取,網址為:。

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.

關於電工金屬(美國)有限公司
電力金屬(美國)有限公司(多倫多證券交易所股票代碼:EML)(場外交易市場代碼:EMUSF)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,該專案已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》,迄今已投資超過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高純度、高價值的錳金屬和化工產品生產商,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扮演著關鍵而突出的角色,加上目前國內沒有錳礦供應,也沒有北美活躍的錳礦,艾米麗錳礦專案的開發對美國、明尼秀克達州和本公司的股東來說是一個重大的機遇。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。

For further information, please contact:

如需更多資訊,請聯繫:

Electric Metals (USA) Limited

電工金屬(美國)有限公司

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

加裡·劉易斯
首席執行官兼董事
電話:+1(647)846 5299
電子郵件: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。

Forward-Looking Information

前瞻性資訊

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.

本新聞稿包含適用證券法定義的“前瞻性資訊”和“前瞻性陳述”(統稱為“前瞻性資訊”)。前瞻性資訊一般可以通過使用“相信”、“可能”、“計劃”、“將”、“預期”、“打算”、“可能”、“估計”、“預期”、“預測”、“專案”和類似的表述以及這些表述的否定來識別。

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.

本新聞稿中的前瞻性陳述包括但不限於與最終部分結算收益的使用有關的陳述。這些表述涉及未來的事件和情況,因此涉及固有的風險、不確定因素和其他因素,這些因素可能導致實際事件或結果與此類前瞻性表述中暗示或表述的估計或預期事件或結果大不相同。此類風險包括但不限於未能獲得所有必要的證券交易所和監管部門的批准。前瞻性資料乃基於管理層根據其對趨勢、現狀及預期發展的經驗及認知而作出的合理假設、估計、分析及意見,以及管理層認為在作出該等陳述當日的情況下屬相關及合理的其他因素。儘管公司試圖確定可能導致實際結果與前瞻性資訊中包含的結果大不相同的重要因素,但可能還有其他因素導致結果與預期的不同。不能保證這些資訊將被證明是準確的,因為實際結果和未來事件可能與這些資訊中預期的大不相同。因此,讀者不應過分依賴前瞻性資訊。

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資訊都受本警示聲明的約束,公司沒有義務修改或更新任何此類前瞻性資訊,也沒有義務公開宣佈對本文中包含的任何前瞻性資訊的任何修改結果,以反映未來的結果、事件或發展,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“預警”項下的某些資訊。本公司對此類資訊的充分性或準確性不承擔任何責任。

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

不得在美國境內傳播,也不得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。
    搶先評論