07:31:14 EDT Fri 10 May 2024
Enter Symbol
or Name
USA
CA



Electric Metals (USA) Ltd
Symbol EML
Shares Issued 144,712,683
Close 2024-04-10 C$ 0.20
Market Cap C$ 28,942,537
Recent Sedar Documents

Electric Metals hires ICP Securities as market-maker

2024-04-10 14:23 ET - News Release

Mr. Brian Savage reports

ELECTRIC METALS (USA) LIMITED ENGAGES ICP SECURITIES INC. FOR AUTOMATED MARKET MAKING SERVICES AND SENERGY COMMUNICATIONS CAPITAL INC. FOR DIGITAL MARKETING AND ADVERTISING SERVICES

Electric Metals (USA) Ltd. has engaged the services of ICP Securities Inc. to provide automated market-making services, including use of its proprietary algorithm, ICP Premium, in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation. ICP will receive a fee of $7,500 plus applicable taxes per month, payable monthly in advance. The agreement between the company and ICP is for an initial term of four months and shall be automatically renewed for subsequent one-month terms unless either party provides at least 30 days written notice prior to the end of the initial term or an additional term, as applicable. There are no performance factors contained in the agreement and no stock options or other compensation are being granted in connection with the engagement. ICP and its clients may acquire an interest in the securities of the company in the future.

ICP is an arm's-length party to the company. ICP's market-making activity will be primarily to correct temporary imbalances in the supply and demand of the company's shares. ICP will be responsible for the costs it incurs in buying and selling the company's shares, and no third party will be providing funds or securities for the market-making activities.

The company has retained Senergy Communications Capital Inc. to provide social media management and on-line communications services to the company. Senergy is a digital marketing firm that will assist with on-line communications and strategies with the goal of increasing awareness of the company and its projects. In consideration for these services, the company has agreed to pay Senergy $2,500 plus applicable taxes per month in advance for a minimum of six months with an option to renew and $30,000 plus applicable taxes for one month, with an option to renew. Of the $30,000, $5,000 will be a fee paid to Senergy and $25,000 will be used for digital marketing and advertising.

To the company's knowledge, Senergy does not have any interest, directly or indirectly, in Electric Metals (USA) or its securities or any right or intent to acquire such an interest.

The engagement of ICP and Synergy are subject to the approval of the TSX-V.

About Electric Metals (USA) Ltd.

Electric Metals (USA) 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 $26-million (U.S.) 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 and the state of Minnesota and for the company's shareholders.

We seek Safe Harbor.

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