African Energy Metals Inc.: Amended Private Placement Terms
Vancouver, British Columbia – April 10, 2025 – African Energy Metals Inc. (NEX: CUCO.H) (FSE: BC2) (WKN: A3DEJG) (the “Company” or “African Energy Metals”) is pleased to announce an amendment to the terms of its previously announced private placement. Originally, the Company intended to complete a non-brokered concurrent part and parcel private placement (the “Financing”) of up to 10,000,000 units (each, a “Unit”) at a price of CAD $0.10 per Unit for aggregate proceeds of up to CAD $1,000,000.
Amended Financing Terms
The Company has now amended the terms of the Financing. The number of Units has been increased to up to 15,000,000 Units at a price of CAD $0.12 per Unit for aggregate proceeds of up to CAD $1,800,000. Each Unit will consist of one common share and one-half of one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of CAD $0.16 for a period of 24 months from the closing date of the Financing.
Impact on African Energy Metals
The amended Financing terms represent a positive development for African Energy Metals. The increased number of Units and the higher offering price will result in additional proceeds for the Company. These proceeds will be used to advance the Company’s exploration projects in Africa, including the development of the Company’s flagship project, the Kwena Copper-Silver Project in Botswana.
Impact on the World
The successful completion of the Financing and the subsequent use of proceeds to advance African Energy Metals’ projects could have a positive impact on the global mining industry. The Kwena Copper-Silver Project is a significant exploration project with the potential to yield large quantities of copper and silver. If the project is successful, it could contribute to the global supply of these essential metals, which are crucial for various industries such as construction, manufacturing, and renewable energy.
Conclusion
The amended terms of African Energy Metals’ private placement represent a positive step forward for the Company. The increased proceeds will enable the Company to advance its exploration projects more effectively, potentially contributing to the global supply of essential metals. The successful execution of the Financing could have a ripple effect on the mining industry as a whole, providing a boost to companies involved in the exploration and production of copper and silver.
- African Energy Metals announces amended private placement terms
- Financing to consist of up to 15,000,000 Units at CAD $0.12 per Unit
- Proceeds to be used to advance exploration projects in Africa
- Successful completion could positively impact global mining industry
