Electric Metals Finalizes Private Placement Closing

Electric Metals (USA) Limited (TSXV:EML)(OTCQB:EMUSF) has announced the final closure of its non-brokered private placement, raising C$583,700 through the issuance of 5,837,000 common shares at a price of $0.10 per share. No finders fees were associated with this offering.

Within this transaction, directors of Electric Metals participated significantly, acquiring 3,737,000 shares for C$373,700. This represents a "related party transaction" under Regulation 61-101 and TSXV Policy 5.9. Exemptions regarding formal valuation and minority approval were applicable, as the transaction remained below 25% of the company's market capitalization.

This closing aids Electric Metals' mission to enhance its manganese and silver projects, strategically positioning itself within the clean energy transition markets, particularly in North America.