The Prospector News

Argentina Lithium Closes $2M Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Argentina Lithium Closes $2M Private Placement






Argentina Lithium & Energy Corp. (TSX-V:LIT) (FRANKFURT:OAY1) (WKN:A0RK7E), is pleased to announce completion of the non-brokered private placement financing of 10,000,000 units for aggregate gross proceeds of $2,000,000, as previously announced on September 29, 2016.



Each Unit consists of one common share and one transferrable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the Company at $0.30 per share for two years from the date of issue, expiring on October 26, 2018.



If the volume weighted average price for the Company’s shares is $0.75 or greater for a period of 10 consecutive trading days, then the Company may deliver a notice to the warrantholder that the Warrants must be exercised within twenty (20) days from the date of delivery of such Notice, otherwise the Warrants will expire at 4:30 p.m. (Vancouver time) on the twenty-first (21st) day after the date of delivery of the Notice. The accelerated exercise provision shall not apply until the expiration of the four-month hold period required under TSX Venture Exchange policies and rules, and securities laws that are applicable to the Company, being February 27, 2017.



Finder’s fees of $69,617 are payable in cash on a portion of the private placement to parties at arm’s length to the Company. In addition, 348,085 non-transferable finder’s warrants are issuable (the “Finder’s Warrants”).¬†Each Finder’s Warrant entitling a finder to purchase one common share at a price of $0.30 per share for two years from the date of issue, expiring on October 26, 2018. The Finder’s Warrants are also subject to the above accelerated exercise provisions.



The proceeds of the financing will be used for general working capital.


Posted October 26, 2016

Share this news article


Uranium Royalty Corp. Closes $30 million Initial Public Offering and Announces Listing on the TSX Venture Exchange

Uranium Royalty Corp. (TSX-V: URC) is pleased to announce that it... READ MORE

December 6, 2019

Denison Completes CAD$4.7 Million Bought Deal Private Placement of Flow-Through Shares

Denison Mines Corp. (DML: TSX) (DNN: NYSE American) is plea... READ MORE

December 6, 2019

Scorpio Gold Reports Results of Drilling at the Keystone-Jumbo Area, Goldwedge Property, Nevada

Scorpio Gold Corporation (TSX-V:SGN) announces results of its fir... READ MORE

December 6, 2019

Nevada Exploration Closes Oversubscribed Financing

Nevada Exploration Inc. (TSX-V: NGE) (OTCQB: NVDEF) is pleased to... READ MORE

December 6, 2019

Ascot Exploration Drilling Intersects 17.29 g/t Gold Over 3.58 Metres in New Area West of Premier Portal

Ascot Resources Ltd (TSX: AOT) (OTCQX: AOTVF) is pleased to annou... READ MORE

December 6, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions