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New Age Metals engaged IBK Capital Corp. to manage a private placement financing

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The $2 million offering of 40 million units priced at $0.05, which consisted of 1 share and 1 warrant exercisable at $0.10 for 24 months, was immediately fully subscribed and is expected to close on January 31st.

Additional Information:

Company: New Age Metals
Website: http://www.NewAgeMetals.com
Stock Symbol: TSXV: NAM
Date Published: Jan 23, 2020
Transcript: Available

Video Transcript:

I’m Nadika Viswakula for Investmentpitch Media

New Age Metals engaged IBK Capital Corp. to manage a private placement financing.

The $2 million offering of 40 million units priced at $0.05, which consisted of 1 share and 1 warrant exercisable at $0.10 for 24 months, was immediately fully subscribed and is expected to close on January 31st.

New Age Metals is a junior mineral exploration and development company focused on the discovery, exploration and development of green metal projects in North America.

The company has two divisions; a Platinum Group Metals division and a Lithium/Rare Element division.

The PGM division includes the 100% owned River Valley Project, the largest undeveloped primary PGM resource in Canada, which has excellent infrastructure and is within 100 kilometers of Sudbury, Ontario.

It also includes the Genesis PGM Project in Alaska, where known PGM mineralization covers a distance of 9 kilometers across the prospect

The Lithium division is the largest mineral claim holder in the Winnipeg River Pegmatite Field where the company is exploring for hard rock lithium and various rare elements such as tantalum and rubidium.

Harry Barr, Chairman and CEO of New Age Metals, stated: "This year's palladium price increase to more than US$2,400 per ounce or C$3,100 highlights the potential of our River Valley PGM project as one of the largest undeveloped primary palladium projects in North America."

Michael White, President & CEO of IBK Capital Corp., added: "We believe there will be a positive rerating of the market value of palladium exploration companies. This would reflect the increasing value of the metal in the ground due to strong palladium prices based on a lack of stable supply from South Africa. We also believe the PGM producers of the world will need to acquire ounces in the ground in favourable jurisdictions to replace and geographically diversify their PGM reserves."

The company intends to use the proceeds of this private placement to complete certain recommendations from the recent PEA completed on the company's River Valley Project.

Some of the proceeds will be directed to build global investor awareness for the company and for working capital purposes.

The shares are trading at $0.115.

For more information, please visit the company’s website at www.NewAgeMetals.com, contact Harry Barr, Chairman & CEO, at hbarr@NewAgeMetals.com.

Investor Relations is handled by Cody Hunt, who can be reached at 613-659-2773 or by email at codyh@NewAgeMetals.com.

I’m Nadika Viswakula for Investmentpitch Media