New Energy Metals Corp. announced a non-brokered private placement of up to 2,000,000 units at an issue price of CAD 0.05 per unit for gross proceeds of CAD 100,000 on November 10, 2022. The transaction included participation from certain insiders of the company for 820,000 unit for gross proceeds of CAD 41,000. Each unit will consist of one common share and one common share purchase warrants. Each warrant will entitle the holder thereof to purchase one common share at a price of CAD 0.10 per share for a period of 24 months. The company did not pay any finders' fees in the transaction. All securities issued in connection with the transaction will be subject to a four-month and one day hold period. The transaction is subject to approval from TSX Venture Exchange and other regulatory approval.

The TSX Venture Exchange has accepted for filing documentation with respect to the non-brokered private placement. The transaction included participation from four placees and total insider involvement was for 820,000 shares (two placees).