European Energy Metals Corp. announced a private placement of 5,350,000 at a price of CAD 0.36 per unit for the gross proceeds of CAD 1,926,000 on September 28, 2023. Each Unit consists of one common share and one-half of a common share purchase warrant.

Each warrant is exercisable for one additional common share at an exercise price of CAD 0.75 for a period of three years following closing of the private placement. The transaction is subject to the approval of the TSX Venture Exchange. All securities issued pursuant to the private placement are subject to a statutory hold period of four months and one day from the date of issuance.

Closing of the private placement is subject customary conditions of closing, including the approval of the TSX Venture Exchange.