Pure Energy Minerals closes first tranche, raises $300,000

Pure Energy Minerals Limited (TSXV: PE) (OTCQB: PEMIF) has closed the first tranche of a non-brokered private placement, issuing 1,200,000 units at $0.25 per unit for gross proceeds of $300,000, according to a company statement.

Each unit consists of one common share and one warrant, with each warrant entitling the holder to purchase one additional common share at $0.37 for three years following the closing. The securities are subject to a statutory hold period expiring four months and one day from the date of issuance.

The company said it intends to use net proceeds for general working capital, including evaluation of prospective transactions, settlement of current liabilities, ongoing exploration expenditures, option payments on mineral properties, and other corporate and administrative expenses.

No finder's fees were paid in connection with the first tranche. The company may pay finder's fees for subsequent tranches, subject to TSX Venture Exchange approval.

The company also announced that Ann Fehr has resigned as Corporate Secretary, effective July 9, 2026. Xavier Wenzel has been appointed Corporate Secretary, effective the same date.

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