Nexus Gold

New Age Metals Inc. Closes Private Placement Raising $350,000

Vancouver, Canada / TheNewswire / December 21, 2017 - New Age Metals Inc. ("NAM" and the "Company") (TSX.V: NAM; OTCQB: PAWEF) announces that further to its news releases dated December 15, 2017, the Company has closed its private placement raising an aggregate $350,000 by way of combined non-flow-through ("NFT") and flow-through ("FT") units.

The Company has issued 883,333 non-flow through units and 3,783,334 flow-through units. Both NFT and FT unit consisted of one common share at a price of $0.075 per Unit and one half of one non-transferable share purchase warrant ("Warrant"). Each Warrant will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.15 per share for a period of 18 months from closing, subject to an acceleration clause.

All Warrants issued in connection with this financing are subject to an acceleration clause. If the closing price of the Company's shares is at or above $0.35 per share for a period of ten (10) consecutive trading days during the exercise period, the Company may accelerate the expiry date of the Warrants to 30 calendar days from the date express written notice is given by the Company to the holder.

The proceeds of the private placement will be used for continued exploration and development of NAM's flagship River Valley PGM project near Sudbury Ontario (Press release 2017-12-15).

Finder's fees were paid in connection with the private placement in the amount of $19,159.18 in cash.

All securities issued in connection with the private placement are subject to a four month and a day hold period expiring on April 22, 2018 in accordance with applicable Canadian Securities Laws. Completion of the private placement and any finder's fees payable are subject to regulatory approval. 

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Great Bear Resources

Great Bear Resources

Great Bear Resources is a Canadian exploration company focused on its 100% owned, royalty-free Dixie gold project located in the prolific Red Lake mining district of Ontario. To date five high-grade gold discoveries have been confirmed along a 2.3km strike within a large-scale 10km target. The system at Dixie has returned multiple high-grade drill intercepts including 16.35m of 26.91 g/t gold and 7.00m of 68.76 g/t gold. Great Bear is fully funded to complete 200,000m of drilling... LEARN MORE

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