Primary Energy Metals closes C$1.1 million financing as new CEO's first order of business

The Vancouver-based company recently appointed two new executives to its team

The closing was part of an oversubscribed public placement

Primary Energy Metals Inc (CSE:PRIM) (OTCMKTS:PEMTF) announced Wednesday that it raised over C$1.1 million in an oversubscribed public placement.

The non-brokered placement represented 15.1 million units at $0.075 per unit for gross proceeds of $1,137,025.

Each unit consists of one share and one-half of one warrant exercisable at $0.15 per share for a 24-month period.

READ: Primary Energy Metals appoints new CEO and CFO

The Vancouver-based company recently appointed two new executives to its team.

Cannabis and finance executive Joel Shacker is taking the reins as president and CEO, replacing Patrick Morris who will remain with the company as a director.

The junior company also tapped Szascha Lim as chief financial officer.

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Mota Ventures

Price: 0.43 CAD

CSE:MOTA

Market: CSE

Market Cap: $10.03 m

Follow

View company profile

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Mota Ventures named herein, including the promotion by the Company of Mota Ventures in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Mota Ventures rings the bell to open trading on the Canadian Securities Exchange

Full interview: Mota Ventures rings the bell to open trading on the Canadian...

Mota Ventures (CSE: MOTA) President and CEO Joel Shacker joined Steve Darling from Proactive in Toronto to discuss the cannabis company ringing the opening bell at the CSE. Shacker talked about the new company and what they are planning for operations in Colombia. Shacker also told Proactive...

1 day, 21 hours ago