Enerev5 Metals Inc. announced a brokered private placement for gross proceeds of up to CAD 500,000 on March 8, 2022. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of the company at a price of CAD 0.10 for a period of two years from the date of issue. The company paid the agent a a cash fee of CAD 13,500, and issued to the agent 300,000 non-transferable broker warrants in connection with the completion of the first tranche. Each broker warrant entitles the holder to acquire one unit of the company at a price of CAD 0.05 until March 7, 2024. All securities issued in the first tranche are subject to a 4-month hold period. A greater than 10% shareholder of the company acquired all 3,000,000 units sold in the first tranche.

On the same date the company has completed a first tranche of the placement with the issue and sale of 3,000,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 150,000.