- Enerev5 Metals (ENEV) has expanded its nickel exploration project, named “Barbara Bay” in Quebec, to about 33,200 hectares
- In addition, it has staked a separate nickel project named “Goals Met,” also in Quebec
- To fund the staking costs and for continued working capital, the company closed the second tranche of its previously-announced financing, raising to date a total of $292,500
- Enerev5 has also extended the period for completion of the balance of its brokered private placement
- Enerev5 Metals Inc. is a Canadian resource company
- Enerev5 Metals Inc. opened trading at $0.025 per share
Enerev5 Metals (ENEV) has expanded its nickel exploration project, named “Barbara Bay” in Quebec, to about 33,200 hectares.
In addition, it has staked a separate nickel project, named “Goals Met,” also in Quebec.
To fund the staking costs and for continued working capital, the company closed the second tranche of its previously-announced financing, raising to date a total of $292,500.
The Goals Met claims were acquired through the staking of 135 mining claims comprising approximately 7,290 hectares in the Province of Quebec using arms-length stakers.
Barbara Bay now totals 33,200 hectares of contiguous claims.
The consideration shares, when issued, shall be fully paid and non-assessable shares of the company at a deemed price of $0.05 per share.
Enerev5 also announces the extension of up to 30 days for completion of the balance of the company’s brokered private placement through IBK Capital Corp. of up to $500,000 of units first announced on September 23, 2022, subject to the approval of the TSXV.
Each unit is priced at $0.05 and consists of one common share and one common share purchase warrant.
Each common share purchase warrant entitles the holder to acquire one additional common share at a price of $0.05 for a period of five years from the closing date.
In addition to the first tranche representing gross proceeds of $105,000 of the private placement previously announced, the company has completed a second tranche of the private placement, subject to final acceptance by the TSXV, with the issue and sale of 3,750,000 units at a price of $0.05 per unit for gross proceeds of $187,500.
Net proceeds from the second tranche will be used for government filing fees and staking costs in connection with the acquisition of mineral claims, the retirement of debt, and administrative expenses.
The company is continuing to pursue the completion of the balance of the private placement.
Enerev5 Metals Inc. is a Canadian resource company focusing on exploration and development potential related to energy metals such as nickel, copper, cobalt, and other strategic battery minerals, as well as other net zero-related assets.
Enerev5 Metals Inc. opened trading at $0.025 per share.
