Nevada Clean Magnesium Issues Correction to Financing Press Release Issued June 7 2013
08.06.2013 | The Newswire
June 7, 2013- Vancouver, British Columbia -- Nevada Clean Magnesium Inc. (TSX.V-NVM; Frankfurt-M1V; Pink Sheets-MLYFF) ("Nevada CMI" or the "Company") is issuing a correction in the number of shares issued and proceeds received in the second tranche of the Company's non-brokered private placement. The Company's combined first and second releases incorrectly stated that 9,300,000,000 shares would be issued upon closing and the second correction showed $93,000,000 in proceeds.The correct amount of shares that will be issued upon final approval of the TSX-Venture Exchange will be 9,300,000 shares for gross proceeds of $93,000.
The financing is priced at $0.01 per Unit. Each Unit is comprised of one common share in the capital of the Company (a "Share") plus a three year share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one common share at a price of $0.05 in the first year and $0.10 in the second and third year at any time up to 5:00 pm (Vancouver time) from the closing date. All of the securities issued pursuant to this private placement will have a hold period expiring four months and one day after the closing date.
About Nevada Clean Magnesium Inc.
NevadaCMI is a diversified precious, speciality and base metal exploration and development company focusing on magnesium, molybdenum and gold exploration and development in North America.
On Behalf of Management
"Edward Lee", CEO
For all NevadaCMI investor relations needs, investors are asked to visit the website at www.nevadacmi.com.
Information Contacts
Edward Lee, CEO
Nevada Clean Magnesium Inc.
#602 - 15216 North Bluff Rd.
White Rock, BC V4B 0A7
Telephone: 604-210-9862
Facsimile: 604-210-9862
Email: info@nevadacmi.com
www.nevadacmi.com
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission. We seek safe harbor.
