BWR Exploration and Electro Metals Update on Financing and RTO Transaction

BWR Exploration Inc. (TSXV:BWR) and Electro Metals and Mining Inc. have announced updates regarding their ongoing non-brokered private placement financing. Electro has issued a total of 4,378,650 units, aiming for a minimum aggregate gross of $3.2 million. The companies plan to finalize this by late March, aligning with their reverse takeover transaction (RTO) plans.

The RTO transaction is poised to culminate with the listing of the new entity, Electro Metals Corp., on the TSX Venture Exchange under the ticker EMC.V. The arrangement involves BWR issuing new shares to Electro shareholders, with potential adjustments.

Electro continues exploration at the Magusi Project, completing drone surveys and pursuing necessary permits for drilling, anticipated by late March or early April.