VANCOUVER, BC–(Marketwired – Oct 8, 2015) – Pure Energy Minerals Limited (TSX VENTURE: PE) (FRANKFURT: A111EG) (OTCQB: HMGLF) (the “Company” or “Pure Energy“) announces that it has engaged RB Milestone Group, LLC (“RBMG“) as corporate advisor pursuant to an agreement between the Company and RBMG dated September 30, 2015 (the “Agreement“). The Agreement is for an initial term of six months (the “Term“).
Pursuant to the terms of the Agreement, RBMG will complete comprehensive research reports in respect of the Company and the development of its business, provide corporate advisory services and devote full time, ongoing support in respect of further research during the Term. In consideration of its services during the Term, RBMG will be paid a retainer of US$55,000 (the “Retainer“).
In connection with the Retainer, RBMG has completed a private placement of common shares with Pure Energy in the amount of the Retainer (the “Private Placement“). The Private Placement consists of a total of 142,839 common shares of Pure Energy at a price of CDN$0.51 per common share, for gross proceeds of CDN$72,847.89 (US$55,000).
All common shares issued under the Private Placement are subject to a four month hold period from the date of issue, in addition to any resale restrictions imposed by applicable U.S. securities laws.
About Pure Energy:
Pure Energy is a lithium-brine resource developer with a focus on becoming the lowest cost, lithium supplier for the burgeoning lithium battery industry in North America. Pure Energy is currently focused on the development of our prospective Clayton Valley South Lithium Brine Project, which has the following key attributes:
Three main claim areas, covering approximately 8000 acres in the southern half of Clayton Valley, Esmeralda County, Nevada, located next to the only producing lithium operation in the United States; Albemarle’s Silver Peak lithium brine mine.
Through drilling and exploration work to date, the Company has established an Inferred Resource (in accordance with NI 43-101) of 816,000 metric tonnes of Lithium Carbonate Equivalent (LCE).
The Company is undertaking Preliminary Economic Assessment level work to better understand the economics and feasibility of using modern processing techniques to convert the Clayton Valley South brines into the high purity lithium products required for new energy storage uses.
On behalf of the Board of Directors
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.