Electric Metals (USA) Limited Concludes $1.1 Million Private Placement

Electric Metals (USA) Limited has finalized a non-brokered private placement, accumulating gross proceeds of C$1,091,999. The funding targets the development of the Emily Manganese Project in Minnesota, aiming to strengthen the domestic supply of high-purity manganese products for the U.S. electric vehicle battery sector.

In this offering, the company issued 9,099,999 units priced at C$0.12 each. Each unit comprises one common share and a half non-transferable warrant, allowing the acquisition of an additional share at C$0.20 within 18 months. No insiders joined the offering.

The generated funds will propel initiatives including economic assessments, technical studies, and environmental evaluations related to the Emily Project, alongside general corporate purposes.