TORONTO, ONTARIO — (GlobeNewswire – May 10, 2018) – Plateau Energy Metals Inc. (“Plateau” or the “Company“) (TSX VENTURE:PLU)(OTCQB:PLUUF)(FRANKFURT:QG1) announced today that due to investor demand, the Company is increasing the size of its non-brokered private placement (the “Financing”) previously announced on May 1, 2018. The Financing, which originally planned to raise gross proceeds of up to C$2 million, will be increased by up to C$502,000 and will now consist of up to 4,170,000 units (“Units”) at a price of C$0.60 per Unit, to raise gross proceeds of up to C$2.502 million. All other terms of the Financing remain unchanged. Insiders of the Company may subscribe for up to 75% of the number of Units offered.
The Financing is still expected to be completed on or about May 18, 2018 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange.
The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale or solicitation would be unlawful.
About Plateau Energy Metals
Plateau Energy Metals Inc. is a Canadian lithium and uranium exploration and development company focused on its properties on the Macusani Plateau in southeastern Peru. The Company controls all reported uranium resources known in Peru, significant and growing lithium resources and mineral concessions covering over 91,000 hectares (910 km2) situated near significant infrastructure. Plateau Energy Metals is listed on the TSX Venture Exchange under the symbol ‘PLU’, quoted on the OTCQB under the symbol “PLUUF” and the Frankfurt Exchange under the symbol ‘QG1’. The Company has 65,088,457 shares issued and outstanding.