December 27, 2019 - TheNewswire - Vancouver, BC, Canada - New Age Metals Inc. (TSXV:NAM); (OTC:NMTLF); (FSE:P7J.F) has arranged for a non-brokered private placement of up to $75,000 flow-through units ("NFT Unit") at a price of $0.06 per flow-through unit ("FT Unit") of the Company.
Each FT Unit will consist of one flow-through common share and one half of one non-transferable share purchase warrant ("Warrant") with each whole Warrant being exercisable at a purchase price of $0.10 per share for a period of two (2) years from the date of closing.
The securities to be issued in connection with the private placement will be subject to a four-month plus one-day hold period from the date of closing in accordance with applicable Canadian Securities Laws. Completion of the private placement and any finder's fees payable are subject to regulatory approval.
The proceeds of the private placement will be used for the Company's flagship project, the River Valley Platinum Group Metals Project located in Sudbury, Ontario and the Company's Lithium projects located near Winnipeg, Manitoba.
On behalf of the Board of Directors
Harry G. Barr
Chairman and CEO
Should you have additional inquiries, please contact our field office at, Tel: 1-613-659-2773.
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.
Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as "continue", "efforts", "expect", "believe", "anticipate", "confident", "intend", "strategy", "plan", "will", "estimate", "project", "goal", "target", "prospects", "optimistic" or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company's ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.