June 15, 2015, Vancouver, BC – Pure Energy Minerals Limited (the “Company”) (TSX-V: PE) announces, further to its recent private placement of units priced at $0.10, each comprised of one common share and one common share purchase warrant exercisable at a price of $0.15 per warrant (each a “Placement Warrant”), which closed in tranches in May, June and September of 2014 (the “Placement”), that it has determined it is in the best interest of shareholders to raise additional capital to fund the aggressive development of its Clayton Valley lithium brine project (the “Project”). The Company does not, however, wish to dilute its current shareholders any further than is absolutely necessary. Accordingly, the Company will issue warrants (the “Incentive Warrants”) to current Placement Warrant holders in consideration of the early exercise of outstanding Placement Warrants (the “Incentive Program”).
Under the Incentive Program, one half of one Incentive Warrant will be granted to Placement Warrant holders for each Placement Warrant exercised within a 10 day period (the “Incentive Period”) beginning on June 15, 2015 and ending on June 24, 2015. Each whole Incentive Warrant will be exercisable on or before December 31, 2016 at a price per Incentive Warrant of $0.24. The Company will limit the number of Incentive Warrants issuable under the Incentive Program to 3,333,333 whole Incentive Warrants, issuable on the exercise of 6,666,666 Placement Warrants for gross proceeds of $1,000,000. To ensure the fairness of the Incentive Program, Placement Warrant holders who are either insiders of the Company or members of the “Pro Group”, as that term is defined in TSX Venture Exchange (the “Exchange”) policy, will only be eligible to participate in the Incentive Program for the last three days of the Incentive Period, and only to the extent that Incentive Warrants remain available for issuance.
All holders of Placement Warrants who exercised Placement Warrants within the past six months have consented in writing to the Incentive program.
About Pure Energy Minerals Limited
The Company is an integrated lithium mining and processing developer with a focus on green ‘cradle to cradle’ lifecycle solutions for lithium supply in North America. The Company is currently focused on the advancement of the Project, located contiguous and to the southeast of the only producing lithium mine in the United States, Rockwood Lithium’s Silver Peak lithium brine mine.
ON BEHALF OF THE BOARD
PURE ENERGY MINERALS LIMITED
“Robert Mintak”
Chief Executive Officer
