Essential Metals Limited announced a private placement of 40,000,000 common shares at a price of AUD 0.125 per share for gross proceeds of AUD 5,000,000 on August 3, 2021. The transaction is subject to TSX Venture Exchange approval. The transaction is expected to close on August 11, 2021. The transaction will include participation from the four directors of the company for AUD 150,000, subject to shareholder approval at the next shareholder meeting. The transaction is subject to approval from shareholders of the company in the general shareholders meeting to be held on September 16, 2021.