On August 23, 2024, European Energy Metals Corp. announced a non-brokered private placement to raise up to $2,000,000 through the issuance of 16,000,000 units at a price of $0.125 per unit. Each unit will consist of one common share and one half of a common share purchase warrant, with each warrant entitling the holder to acquire an additional common share at $0.20 per share for two years after the closing of the private placement.
The company may pay finder’s fees of 7% cash and issue finder’s warrants equal to 7% of the units placed by the finder. The net proceeds from the private placement will be used for exploration work on the company’s properties and for working capital. The completion of the private placement is subject to approval from the TSX Venture Exchange.
European Energy Metals Corp. is a junior mining company focused on the Lithium-Cesium-Tantalum Finnish Pegmatite Project in central Finland. The company’s concessions are located near the Keliber mine and production complex, currently under construction. The company cautions that the presence of lithium mineralization at Keliber’s properties does not guarantee similar mineralization at the company’s properties.
An estimated €600 million investment from Sibanye-Stillwater Limited in partnership with the Finnish Minerals Group is underway in the Kautinen Region for the development of a lithium supply chain. The company advises that forward-looking information contained in this release is subject to various risks and uncertainties that could impact actual results. The company does not intend to update or revise forward-looking information unless required by law.
