European Electric Metals Inc. announced a non-brokered private placement of 30,000,000 common shares at a price of CAD 0.05 per share for gross proceeds of CAD 1,500,000 on June 29, 2022. The securities issued will be subject to restrictions on resale for a period of four months from the date of issuance and such other voluntary restrictions on resale agreed to by the subscribers and the company. The company may pay finders a fee in cash and/or warrants.

Closing of the transaction is subject to approval of the exchange.