TORONTO, June 4, 2015 /CNW/ - New Era Minerals Inc. (the "Company") announces that it has closed the first tranche of its non-brokered private placement (the "Private Placement") previously announced in the Company's news release dated May 1, 2015, issuing 2,750,000 common shares of the Company (the "Shares") at a price of $0.20 per Share and raising $550,000.
The proceeds raised from the Private Placement will be used for general corporate and working capital requirements, including the investigation of potential opportunities to acquire additional mining projects in Xinjiang, People's Republic of China ("PRC").
All securities issued pursuant to the Private Placement will be subject to a four month hold period expiring on October 2, 2015.
About New Era Minerals Inc.
New Era Minerals Inc., through its wholly-owned subsidiary, Haijin International Group Limited, owns 95% of Xinjiang Yongkun Mining Co. Ltd. ("Yongkun"). Yongkun's principal activities are the exploration, evaluation and development of mineral property interests in the PRC, including Yongkun's 100%-owned Suyeke North nickel property located in Tuoli County, Tacheng Area, Xinjiang-Uyghur Autonomous Region, PRC.
On behalf of the Board of Directors of
NEW ERA MINERALS INC.
Sun Tian Xiang
Chief Executive Officer
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE New Era Minerals Inc.
For further information: Avi Grewal, [email protected], Telephone: 416-213-8118 x210