TSXV: NEM
URUMQI, XINJIANG, PEOPLE'S REPUBLIC OF
CHINA, June 24, 2016
/CNW/ - New Era Minerals Inc. (the "Company") is
pleased to announce that it has arranged a non-brokered private
placement (the "Private Placement") with two investors who
have subscribed for an aggregate of 1,952,975 common shares of the
Company (the "Shares") at a price of Cdn$0.20 per Share to raise aggregate gross
proceeds of Cdn$390,595.20.
The terms and completion of the Private Placement are subject to
TSX Venture Exchange approval.
The funds raised from the Private Placement are to be used for
general corporate and working capital, including the investigation
of potential opportunities to acquire additional mining
projects.
The Company also advises that Mr. Lin
Guang Ju, a director and control person of the Company, will
not be completing an additional 5,000,000
RMB second tranche of a private placement previously
announced in the Company's news release of January 8, 2016.
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 People's Republic of
China ("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.
Forward-looking Information
This news release includes certain statements that may be deemed
to be "forward-looking information" within the meaning of
applicable Canadian securities legislation that are based on the
belief of management and reflect the Company's current expectation.
All statements in this release, other than the statements of
historical facts, that address events or developments that the
Company expects to occur, are forward-looking information.
Forward-looking information are generally, but not always,
identified by the words "expects", "plans", "could" or "should"
occur.
Forward-looking information in this news release includes,
without limitation, all statements regarding the completion of
Private Placement and the proposed use of proceeds to be raised
pursuant to the Private Placement. By its nature, forward-looking
information involve known and unknown risks, uncertainties and
other factors which may cause our actual results, performance or
achievements, or other future events, to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking information. Such factors include,
among other things, the timeliness of receipt of regulatory
approval to the Private Placement; fluctuations in the Canadian
dollar-Renminbi exchange rate; and those factors disclosed in the
Company's publicly filed documents. Forward-looking
information is also based on a number of assumptions, including,
but not limited to, that all required stock exchange and
other regulatory approvals to the Private Placement will be
obtained.
Although the Company believes that the expectations expressed in
such forward-looking information are based on reasonable
assumptions, such forward-looking information are not guarantees of
future performance and actual results may differ materially from
those in forward-looking information. The forward-looking
information in this news release is provided as of the date of this
news release, and Company disclaims any intention or obligation to
update or revise such forward-looking information, except as
required by applicable law. Accordingly, readers should not place
undue reliance on forward-looking information.
SOURCE New Era Minerals Inc.