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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (52180)	11/1/2022 4:23:21 PM
From: Goose94	Read Replies (1) of 202904

European Electric Metals (EVX-V) Closes $2.25 Million PP Financing Nov 1st 2022 - NR European Electric Metals Inc. has closed its previously announced non-brokered private placement financing (see news release dated Sept. 12, 2022) of 45 million common shares at a price of five cents per share for total gross proceeds of $2.25-million. No finders' fees were paid under the offering. The securities issued under the offering will be subject to a four-month hold period expiring March 1, 2023, and additional voluntary restrictions on resale agreed to by the subscribers and the company. Insiders subscribed for a total of 1.3 million common shares for aggregate gross proceeds of $65,000. The issuance of common shares to insiders is considered a related party transaction subject to Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company has relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the participation in the offering by the insiders will not exceed 25 per cent of the fair market value of the company's market capitalization. The proceeds of the offering will be used to repay corporate indebtedness, to investigate and acquire a new mineral property, and for general working purposes. Additional Information Jonathan Richards Chief Financial Officer European Electric Metals Inc. Phone: (604) 687-7130 Email: info@europeanelectricmetals.com

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