VANCOUVER, British Columbia, Feb. 14, 2019 (GLOBE NEWSWIRE) -- New Era Minerals Inc. (TSXV: NEM; “New Era” or the “Company”) announced today that it has completed a private placement with an arm’s-length private investor, issuing 3,515,625 common shares at a price of CAD$0.08 per share for gross proceeds of CAD$281,250.
The net proceeds from the private placement will be used for general working capital requirements. The common shares issued in the private placement are subject to a 4-month hold period in Canada and such longer periods as may be required under other applicable securities laws.
About New Era
New Era Minerals Inc., through its wholly-owned subsidiary, Haijin International Group Limited, owns 95% of Xinjiang Yongkun Mining Co., Ltd (“Yongkun”). Yongkun's principal activities are the exploration, evaluation and development of mineral property interests in the People’s Republic of China (PRC), including Yongkun's 100%-owned Suyekebei (Suyeke North) nickel property located in Tuoli County, Tacheng Area, Xinjiang- Uyghur Autonomous Region, PRC.
For additional information please contact:
Vicky Gao, Corporate Secretary
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.