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Pure Energy raises C$6.2M in oversubscribed placement

Pure Energy MineralsLtd. said July 20 that it has raised about C$6.2 million after closinga previously announcedprivate placement.

The offering comprised 11,201,902 units at 55 cents apiece, includingthe full exercise of the overallotment option.

Each unit consists of 1 common share and 1 common share purchasewarrant. Each warrant, which expires in 36 months, can be exercised for 1 shareat 80 cents each.

Net proceeds will be put toward exploration and engineering workon the Clayton Valley Southlithium project in Nevada, and for working capital and general corporate purposes.