New Energy Announces New Chief Executive Officer & Director And Private Placement
Vancouver, British Columbia – June 5, 2024 – New Energy Metals Corp. (TSXV: ENRG) (OTCPink: NEMCF) (“New Energy” or the “Company“) is pleased to announce the appointment of Kenneth Kaczkowski as Chief Executive Officer and a Director of New Energy effective immediately. Rishi Kwatra has stepped down as President & CEO but will continue to serve as a Director of the Company. The Board thanks Rishi for his leadership during his tenure as President & CEO and looks forward to continuing its collaboration with him in his role as a director.
Mr. Kaczkowski has been an equity research analyst and investment advisor based in Germany for the past decade. He also serves as a broker for Warranty & Indemnity Insurance, operating across 25 markets in Europe, the Middle East, and Africa where he has placed over 125 policies, representing a deal volume of approximately €50 billion. As a founding investor in Gold Hart Mining Corporation and Black Lake, he played a crucial role in raising over $20 million. Furthermore, he has raised over $50 million for various mining, defense, insurance and technology companies. Mr. Kaczkowski has built and maintained a robust network of investment bankers and lawyers in both North American as well as in major European financial markets. His expertise spans project development, mergers and acquisitions, corporate finance, capital markets and risk management. Mr. Kaczkowski authored several articles on Volatility in the US market, Equity valuations in the US, an outlook on the Spanish Economy and the longest bull market in history. He holds a Master’s Degree in International Business from Smith’s School of Business at Queen’s University and a Bachelor of Arts degree in Economics from Western University.
Rishi Kwatra, director, commented, “The Board is delighted to welcome Kenneth to New Energy. With over a decade of capital markets experience in both the public and private sectors, he brings a wealth of experience to the Company.”
The Company has granted 50,000 stock options and 25,000 restricted share units (“RSUs”) to Mr. Kaczkowski. The options are exercisable at $0.115 per share for a period of 5 years and the RSUs vest over two years.
The Company also announces that Keenan Kohol has resigned as a director of the Company effective immediately, to focus on his other professional commitments. The Board of Directors thanks Keenan for his contributions to the Company and wishes him the best in his future endeavours.
Non-Brokered Private Placement
The Company announces a non-brokered private placement of 1,000,000 shares at $0.10 per share for gross proceeds of $100,000 (the “Offering”). The proceeds from the Offering will be used for working capital.
Completion of the Offering is subject to the approval of the TSX Venture Exchange. The securities to be issued in connection with the Offering will be subject to a four month and one day hold period in accordance with applicable securities legislation.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the U.S., or in any jurisdiction in which such an offer or sale would be unlawful. The securities described herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any U.S. state securities laws and may not be offered or sold in the U.S. or to the account or benefit of a U.S. person or a person in the U.S. absent registration or an applicable exemption from the registration requirements.
New RSUs Awards and Stock Options Repricing
The Company has awarded an aggregate of 75,000 RSUs to directors and officers under the Company’s Equity Incentive Plan. Each RSU entitles the recipient to receive one common share of the Company over a period of two years.
The Board of Directors has approved the repricing of 93,300 stock options exercisable at $1.00 per share and 59,000 stock options exercisable at $4.20 per share previously issued to directors, officers, employees and consultants under the Company’s Equity Incentive Plan to $0.115 per share (the “Options Repricing”). The Options Repricing is subject to the approval of the TSX Venture Exchange. In addition, the repricing of options held by insiders of the Company is subject to disinterested shareholder approval.
ON BEHALF OF THE BOARD OF DIRECTORS,
New Energy Metals Corp.
Rishi Kwatra
Director
Tel: 778.510.5757
www.new-enrg.com
About New Energy Metals Corp.
New Energy Metals Corp. is a Canadian-based resource company listed on the TSX Venture Exchange under the symbol “ENRG”. The Company has an option to purchase a 100% interest in the Troitsa Copper property covering approximately 7,000 hectares located in the Omineca Mining Division of British Columbia.
Neither the 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.
Certain statements in this press release are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the ability of the new management to use his experience to positively impact New Energy’s business and the ability of the Company to close the Offering for any reason. Such statements are qualified in their entirety by the inherent risks and uncertainties that the proceeds of the Offering may be used other than as set out in this news release and other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
