Electric Metals Announces Private Placement Offering

Electric Metals (USA) Limited (EML), based in Toronto, has announced a non-brokered private placement offering of up to 25 million units at CAN$0.12 per unit, targeting a total of CAN$3 million. Each unit comprises one common share and half of a non-transferable share purchase warrant. Whole warrants allow acquisition of one share for CAN$0.20 within 18 months.

Proceeds from the offering aim to fund several initiatives, including a preliminary economic assessment of the Emily manganese mine, research for the HPMSM plant, environmental studies, and general working capital.

Insiders may participate, potentially classifying the transaction as a "related party" under Canadian regulations, yet expected exemptions apply. The company is moving ahead swiftly to finalize financing opportunities.