Electric Metals Extends Private Placement Offering

Electric Metals (USA) Limited has announced a 30-day extension for the closure of its non-brokered private placement. The company aims to issue 10 million common shares at CAD$0.10 per share, targeting maximum gross proceeds of CAD$1,000,000. The final closing is anticipated by February 12, 2025, subject to TSX Venture Exchange approval.

Previously, Electric Metals completed the first tranche of this offering, raising CAD$583,700 through the issuance of 5,837,000 shares. The company's efforts align with its mission to become a prominent US supplier of high-purity manganese, crucial for electric vehicle batteries, amidst a lack of domestic supply in North America.

This extension reflects ongoing interest and commitment to advancing its projects and maintaining strategic financial planning. Investors and stakeholders await further updates as the deadline approaches.