March 14, 2018 TSXV: NEM
NEW ERA MINERALS ARRANGES PRIVATE PLACEMENT
URUMQI, XINJIANG, PEOPLE’S REPUBLIC OF CHINA – New Era Minerals Inc. (the “Company”) advises that it has arranged a non-brokered private placement (the “Private Placement”) involving the sale of 11,597,699 common shares of the Company (the “Shares”) to a private investor at a subscription price of CAD$0.08 per Share for gross proceeds of CAD$927,816. Proceeds of the Private Placement are to be used for the Suyeke North property in Xinjiang Province (including to conduct test work on the project and towards the extension of the prospecting rights for the property) as well as for general corporate and working capital requirements. The Private Placement is subject to receipt of regulatory approval.
About New Era Minerals Inc.
New Era Minerals Inc., through its wholly-owned subsidiary, Haijin International Group Limited, owns 95% of Yongkun. Yongkun’s principal activities are the exploration, evaluation and development of mineral property interests in the PRC, including Yongkun’s 100%-owned Suyekebei (Suyeke North) nickel property located in Tuoli County, Tacheng Area, Xinjiang-Uyghur Autonomous Region, PRC.
On behalf of the Board of Directors of
NEW ERA MINERALS INC.
Sun Tian Xiang
Chairman and Chief Executive Officer
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photo credit: New Era Minerals