March 29, 2018 / Vancouver, British Columbia / NRG Metals Inc. (“NRG” or the “Company”) (TSX-V: NGZ) (OTCQB: NRGMF) (Frankfurt OGPN), is pleased to announce that, further to its news release of March 13, 2018, due to high demand, it has closed an over-subscribed private placement (the “Private Placement”) raising gross proceeds of $1,287,000 by the issuance of 6,435,000 units (the “Units”) at a price of $0.20 per Unit. Each Unit consists of one common share and one transferable common share purchase warrant exercisable for a period of two years from the date of closing at an exercise price of CAD$0.30 per share. All securities issued are subject to a four-month hold period.
The Company paid finder’s fees of 6% cash and 6% finder’s warrants to PI Financial Corp. The Private Placement proceeds will be used to fund the initial diamond drilling at the Company’s Hombre Muerto North lithium project in Salta province, Argentina and for general working capital.
About the Company
NRG Metals Inc. is an exploration stage company focused on the advancement of lithium brine projects in Argentina. In addition to the Hombre Muerto Norte project, the Company is evaluating its 29,000 hectare Salar Escondido project in Catamarca province where the company recently completed the first drill hole that proved the Company’s conceptual model of a buried lithium brine target.
On behalf of the board of directors of NRG Metals Inc.:
Adrian F.C. Hobkirk
President and C.E.O.
The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.