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An announcement from Nevada Silver ( (TSE:EML) ) is now available.
Electric Metals (USA) Limited announced the final closing of its non-brokered private placement, issuing 5,837,000 common shares at $0.10 per share, raising C$583,700. This includes significant participation from directors, constituting a related party transaction, but exemptions were applied due to the transaction’s scale relative to the company’s market capitalization. This strategic financial move aims to bolster the company’s resources as it continues its focus on becoming a key supplier of manganese for the clean energy sector.
More about Nevada Silver
Electric Metals (USA) Limited is a US-based mineral development company focusing on manganese and silver projects to support the transition to clean energy. Its main asset is the Emily Manganese Project in Minnesota, known for the highest-grade manganese deposit in North America. The company’s goal is to become a domestic US producer of high-value, high-purity manganese products for the North American electric vehicle battery, technology, and industrial markets.
YTD Price Performance: 0.0%
Average Trading Volume: 105,222
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$10.13M
Learn more about EML stock on TipRanks’ Stock Analysis page.