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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
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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

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