African Energy Metals Inc announced a non brokered private placement of 3,333,333 units at a price of CAD 0.015 per unit for aggregate proceeds of CAD 49,999.995 on July 2, 2024. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share in the capital of the company at a price of CAD 0.05 per warrant share on the date that is 12 months following the closing date.

The private placement has been fully subscribed. he securities issued pursuant to the financing will be subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of closing of the financing. Closing of the financing is subject to receipt of all necessary corporate and regulatory approvals, including approval of the TSX Venture Exchange.