18:26:00 EDT Mon 13 May 2024
Enter Symbol
or Name
USA
CA



Envirometal Technologies Inc
Symbol ETI
Shares Issued 93,046,002
Close 2023-12-15 C$ 0.045
Market Cap C$ 4,187,070
Recent Sedar Documents

Envirometal closes $283,941 first tranche of placement

2023-12-18 16:10 ET - News Release

Mr. Jason Leikam reports

ENVIROMETAL COMPLETES TRANCHE OF NON-BROKERED PRIVATE PLACEMENT

EnviroMetal Technologies Inc. has closed the first tranche of its previously announced non-brokered private placement. The company has received subscriptions for 5,678,822 units at a price of five cents per unit for total gross proceeds of $283,941.

Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share in the capital of the company at any time prior to 5 p.m. PT on Dec. 14, 2025, at a price of 10 cents per share during the initial 12-month period from the date of closing, and thereafter 15 cents per share for the remaining 12 months.

The proceeds of the private placement will be used to retire outstanding convertible notes in the amount of $165,200, finance engineering and design studies, further the development of and commercial demonstration of the company's sustainable gold recovery technology at a client's site, and general working capital. No finders' or brokers' fees are payable in relation to the closing of the first tranche of the private placement. The securities issued under the placement will be subject to a four-month hold period. The closing of this and subsequent tranches of the private placement are subject to certain closing conditions including, but not limited to, the receipt of all necessary approvals by the applicable securities regulatory authorities including the Canadian Securities Exchange. Subject to regulatory approval, the company may increase the size of the private placement.

About Envirometal Technologies Inc.

Envirometal Technologies is commercializing highly effective precious metal recovery technologies. Envirometal's proprietary non-cyanide, water-based, neutral pH and closed-circuit treatment process is proven to extract precious metals from ores and concentrates at lab and pilot scale. The company's technologies provide commercial, operational and environmental advantages for gold mining companies. Envirometal is actively engaging with mining companies that are seeking to reduce the costs and environmental impact of their mining operations while strengthening their bottom line.

We seek Safe Harbor.

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