Electric Metals Announces Private Placement Offering

Electric Metals (USA) Limited, listed on TSXV and OTCQB, plans a non-brokered private placement of up to 10 million common shares, priced at CAD$0.10 per share. The potential gross proceeds are CAD$1 million. The funds aim to advance key initiatives, including studies related to their HPMSM plant and environmental work at the Emily Manganese Project.

The offering is expected to close by November 29, 2024, pending necessary approvals, including from the TSX Venture Exchange. Insiders may participate, which would constitute a "related party transaction" exempt from certain requirements.

The company clarifies that its securities are not registered under U.S. law, preventing offers or sales in the United States. Any insider transactions would remain below 25% of the company's market capitalization.