The Prospector News

Lithium Ionic Corp. Announces Closing of $25 Million Private Placement Offering

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Lithium Ionic Corp. Announces Closing of $25 Million Private Placement Offering

 

 

 

 

 

Lithium Ionic Corp. (TSX-V:LTH) is pleased to announce that it has closed its previously announced private placement offering of common shares of the Company pursuant to which the Company issued 15,625,000 Shares at a price of $1.60 per Share for aggregate gross proceeds of $25,000,000. The Offering was led by Clarus Securities Inc., as lead agent, on behalf of a syndicate of agents that included Cormark Securities Inc., PowerOne Capital Markets Ltd. and Jett Capital Advisors, LLC.

 

The Company intends to use the net proceeds from the Offering for exploration and development work on the Company’s mineral properties and for general corporate working capital purposes.

 

In connection with the Offering, the Agents received an aggregate cash fee equal to 6.0% of the gross proceeds from the Offering. In addition, the Company issued to the Agents 937,500 non-transferable broker warrants. Each Broker Warrant will entitle the holder thereof to purchase one common share at an exercise price equal to the Offering Price for a period of 24 months following the closing of the Offering.

 

The Shares issued pursuant to the Offering will be subject to a four-month and one day hold period under applicable securities laws in Canada. The Offering remains subject to final approval of the TSX Venture Exchange.

 

About Lithium Ionic Corp.

 

Lithium Ionic is a Canadian-based lithium-focused mining company with properties covering ~2,000 hectares located in the prolific Aracuai lithium province in Minas Gerais State, Brazil, which boasts excellent infrastructure, including highways, access to hydroelectrical grid power, water, and nearby commercial ports. Its Itinga and Galvani claims are located in the same district as the lithium-producing CBL mine and development-stage Sigma Lithium Corp.’s large Barreiro and Xuxa lithium deposits.

 

Posted October 5, 2022

Share this news article

MORE or "UNCATEGORIZED"


VIZSLA SILVER AGREES TO ACQUIRE NEWLY CONSOLIDATED PAST-PRODUCING SILVER DISTRICT IN THE EMERGING SILVER-GOLD-RICH PANUCO - SAN DIMAS CORRIDOR IN MEXICO

Vizsla Silver Corp. (TSX-V: VZLA) (NYSE: VZLA) (Frankfurt: 0G3) i... READ MORE

March 28, 2024

Additional Drill Results Highlighted by Hole D-380 in Block 6 at Oko West, Intersecting 39.7 m Grading 5.27 g/t Au Including 2.8 m @ 14.18 g/t Au and 13.0 m Grading 10.50 g/t Au

Reunion Gold Corporation (TSX-V: RGD) (OTCQX: RGDFF) is pleased t... READ MORE

March 28, 2024

STLLR Gold’s Tower Gold Project Infill Drilling Continues to Confirm Mineralization at the Jonpol Deposit

STLLR Gold Inc. (TSX: STLR) (OTCQX: STLRF) (FSE: O9D) announces ... READ MORE

March 28, 2024

Hudbay Provides Annual Reserve and Resource Update and Production Outlook

Consolidated copper production is expected to average 153,000i to... READ MORE

March 28, 2024

Aya Gold & Silver: Record 2023 Production, Revenue and Operating Cash Flow

Aya Gold & Silver Inc. (TSX: AYA) (OTCQX: AYASF) is pleased t... READ MORE

March 28, 2024

Copyright 2024 The Prospector News