Enerev5 Metals Inc. announced a private placement to issue 5,000,000 hard dollar units at a price of CAD 0.05 per unit for the gross proceeds of CAD 250,000 and 3,333,333 flow-through units at a price of CAD 0.09 per unit for the gross proceeds of CAD 299,999.97 for the aggregate gross proceeds of CAD 549,999.97 on June 8, 2023. Each hard dollar unit consists of one common share and one common share purchase warrant and flow-through unit consists of one flow-through common share and one Warrant. Each warrant will entitle the holder to acquire one additional common share of the company at a price of CAD 0.05 for a period of five years from the date of issuance.

The hard dollar units and flow-through units are being offered on a brokered basis through IBK Capital Corp. The company will pay the agent a cash fee of 9% of the funds raised, and issue to the agent warrants equal to 10% of all hard dollar units and flow-through units issued in the form of non-transferable broker warrants. All securities issued in these offerings are subject to a 4-month hold period from the date of closing.