Pure Energy Minerals Ltd (PEMIF)

[Scotttrader80]

VANCOUVER, British Columbia, Sept. 28, 2017 (GLOBE NEWSWIRE) -- Pure Energy Minerals Limited (TSX VENTURE:PE) (PEMIF) (the “Company” or “Pure Energy”) announces that it has completed a non-brokered private placement of 2,325,000 Units at $0.50 per Unit, for total gross proceeds of $1,162,500. Each Unit consists of one common share and one-half share purchase warrant (“Warrant”). Each whole Warrant entitles the holder to acquire an additional common share at $0.75 per share for a two year period expiring September 26, 2019, subject to acceleration. If at any time between the date that is four months and one day from the closing of the Private Placement and the Expiry Date of the Warrant, the closing price of the Shares on the TSX Venture Exchange (the “Exchange”) is equal to or greater than $1.20 for 20 consecutive trading days, then the Company may, at its sole option, elect to provide notice (the “Acceleration Notice”) to the holders of the Warrants by news release that the Warrants will expire at 4:00 p.m. (Vancouver time) on the date that is 30 days from the date of the Acceleration Notice (the “Accelerated Expiry Date”). In such instance, all Warrants that are not exercised prior to the Accelerated Expiry Date will expire at 4:00 p.m. (Vancouver time) on the date that is 30 days from the date of the Acceleration Notice.

https://finance.yahoo.com/news/pure-energy-minerals-completes-non-120000106.html