Elemental to price private placement of stock and share purchase plan

Company will sell up to 36,542,142 ordinary shares to fund study costs

By Devika Patel

Knoxville, Tenn., Nov. 20 - Elemental Minerals Ltd. said it plans a private placement of shares. The company also plans a share purchase plan at the same price per share. BMO Capital Markets, Renaissance Securities (Cyprus) Ltd. and National Bank Financial are the agents for the placement.

In the placement, the company will sell up to 36,542,142 ordinary shares on a combined non-underwritten brokered basis.

Proceeds will be used for study costs, exploration and resource definition, working capital and general corporate purposes.

Elemental is a potash resources explorer in Perth, Australia.

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