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NRG Metals Announces Private Placement and Share Issuance for Property Option
June 27, 2019 / Vancouver, BC / NRG Metals Inc. (“NRG” or the “Company”) (TSX-V: NGZ) (OTCQB: NRGMD) (Frankfurt: OGPN) announces a private placement (the “Private Placement”) of up to 8,000,000 units (the “Units”) at a price of CDN$0.12 per Unit for gross proceeds of up to CDN$960,000. Each Unit will be comprised of one common share (the “Shares”) and one transferable common share purchase warrant (the “Warrants”). Each Warrant will allow the holder to purchase one Share of the Company at a price of CDN$0.15 per Share for a period of five years from the date of closing of the Private Placement subject to an expiry acceleration provision whereby if the Company's Shares close at or above $0.25 per Share for more than 10 consecutive trading days, the holder will have 30 days from that date to exercise the Warrants.
The Private Placement will be open to all existing shareholders of the Company and interested parties who can rely uponanexemptionfromtheregistrationandprospectusrequirementsofapplicablesecuritieslawstoparticipate. The private placement proceeds will be for development for Argentina property and for general working capital.
Pursuant to the Acquisition Agreement for the Hombre Muerto North Lithium Project, NRG announces it has issued an aggregate of 750,000 Shares at a deemed price of CDN$0.155 per Share pursuant to a mining exploration agreement with option to purchase dated May 17, 2017, as amended on October 31, 2017 and April 22, 2018, entered into with Jorge E. Moreno and Alba Silvia Sala regarding the Hombre Muerto North Lithium project.
All Shares to be issued are subject to a four month hold period.
About NRG Metals Inc.
NRG metals is developing its flagship HMN Lithium Project which is strategically located in the Hombre Muerto Salar, an area of active lithium production by FMC at the Fenix lithium mine, some 12 kilometers south of the NRG project area. The project is surrounded by ground now owned by POSCO, a Korean based lithium producer, as a result of its US$280 million purchase of the area from Galaxy Resources Ltd., an Australian-based producer. Galaxy is also moving their portion of the Hombre Muerto Salar, the Sal de Vida Project, to lithium production.
On behalf of the board of directors of NRG Metals Inc.: Adrian F. C. Hobkirk,
President and CEO
T: Investors / Shareholders Call 855-415-8100 / Direct to Adrian Hobkirk 714.316.3272
E: ahobkirk@nrgmetalsinc.com