Pure Energy Minerals announces C$500,000 private placement

Pure Energy Minerals Limited (TSXV: PE) (OTCQB: PEMIF) announced it will proceed with a non-brokered private placement of up to 2 million units at C$0.25 per unit for gross proceeds of C$500,000.

Each unit consists of one common share and one warrant. The warrants allow holders to purchase additional shares at C$0.37 for 36 months following the offering's closing.

Company insiders may participate in the offering, which would constitute a related party transaction under Multilateral Instrument 61-101. The company expects such participation would be exempt from formal valuation and minority shareholder approval requirements since neither the fair market value nor consideration would exceed 25% of the company's market capitalization.

Pure Energy intends to use net proceeds for general working capital, including evaluating prospective transactions, settling current liabilities, ongoing exploration expenditures, option payments for mineral properties, and corporate administrative expenses.

The securities will be subject to a statutory hold period expiring four months and one day from issuance. The company may pay finder's fees on a portion of the offering, subject to applicable securities legislation.

Closing requires approval from the TSX Venture Exchange. The securities will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption.

Pure Energy describes itself as a mineral exploration company transitioning toward corporate growth following the option-out of its Clayton Valley Project. The company states it is evaluating transformative transactions as part of its merger and acquisition strategy.

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