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DENVER, Jan. 11, 2019 (GLOBE NEWSWIRE) — Pure Energy Minerals Limited (TSX VENTURE:PE) (OTCQB:PEMIF) (the “Company” or “Pure Energy”) announces that subject to regulatory approval, it has entered into an agreement with a contractor to settle debt of $34,128.84 by the issuance of 262,530 common shares in the capital of the Company at a discounted market price of $0.13 per share.
The Company has also issued 2,500,000 shares to GeoXplor Corp. pursuant to the terms of an Option Agreement dated May 10, 1017, as amended.
About Pure Energy Minerals Limited
Pure Energy Minerals is a lithium resource developer that is driven to become a low-cost supplier for the growing lithium battery industry. The Company is developing the Clayton Valley Project (“CV Project”) in Clayton Valley, Nevada, where it has completed a Preliminary Economic Assessment (“PEA”) (news releases of June 26, 2017 and April 5, 2018). The lithium-bearing brines identified at the CV Project contain very low levels of deleterious elements and have been shown by small scale pumping tests to be amenable to conventional extraction. The Company is also exploring a lithium brine project in the Lithium Triangle of South America, the Terra Cotta Project (“TCP”). The TCP is located on Pocitos Salar in Salta, Argentina, where it enjoys some of the best infrastructure and access of any lithium brine exploration project in Argentina.
On behalf of the Board of Directors,
“Mary L. Little”
Director,
Pure Energy Minerals Ltd.
CONTACT:
Pure Energy Minerals Limited (www.pureenergyminerals.com)
Email: info@pureenergyminerals.com
Telephone – 604 608 6611
Cautionary Statements and Forward-Looking Information
The information in this news release contains forward looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release may include plans for extracting brine at the CV Project, and producing economic benefit from the CV Project, as well as future exploration and development on the CV Project and the TCP. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements.
The Company does not undertake to update any forward-looking information, except as required by applicable laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“), or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined under the U.S. Securities Act) absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.