Electric Metals (USA) Limited Closes $3.0 Million Non-Brokered Private Placement Led by Eric Sprott and Crescat Capital
Summary
The Offering also attracted additional institutional and accredited investors, both new and returning, demonstrating broad confidence in the Companys growth prospects.Kevin Smith, CFA, Founder and CEO of Crescat Capital, commented: "High-purity manganese sulfate monohydrate (HPMSM) demand is expected to increase 29x by 2050 because its critical for electric vehicle batteries. "Net proceeds will be used to advance key initiatives, including the preliminary economic assessment of the Emily Manganese Project, technical and environmental studies, studies related to the planned high-purity manganese sulfate monohydrate (HPMSM) facility, and for general working capital purposes.This financing aligns with recent U.S. policy initiatives aimed at strengthening domestic critical mineral supply chains. The Companys mission in Minnesota is to become a domestic US producer of high-value, high-purity manganese metal and chemical products to supply the North American electric vehicle battery, technology and industrial markets. With manganese playing a critical and prominent role in lithium-ion battery formulations, and with no current domestic supply or active mines for manganese in North America, the development of the Emily Manganese Project represents a significant opportunity for America, the State of Minnesota and for the Companys shareholders.For further information, please contact:This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions.Such statements in this news release include, without limitation: the Companys mission to become a domestic US producer of high-value, high-purity manganese metal and chemical products to supply the North American electric vehicle battery, technology and industrial markets; that manganese will continue to play a critical and prominent role in lithium-ion battery formulations; that with no current domestic supply or active mines for manganese in North America, the development of the Emily Manganese Project represents a significant opportunity for America, Minnesota and for the Companys shareholders; and planned or potential developments in ongoing work by Electric Metals.These statements address future events and conditions and so involve inherent risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements.