Lithium X Energy Corp. (TSX-V:LIX) is pleased to announce the closing of its oversubscribed non-brokered private placement of 8,332,470 shares at a price of $1.02 per share for gross proceeds of $8,499,119.40. Finder’s fees of $427,204 and 100,000 common shares were paid in relation to the Private Placement. The common shares issued pursuant to the Private Placement and the finder’s fee are subject to a four month hold period expiring July 19, 2016.
The Company further reports that pursuant to the Company’s Stock Option Plan, a total of 1,000,000 incentive stock options have been granted to certain directors, officers, and consultants of the Company. These options are exercisable at the closing price as of March 21, 2016 for a period of 5 years, subject to regulatory approval.
About Lithium X Energy Corp
Lithium X Energy Corp. is a lithium exploration and development company with a focus on becoming a low-cost supplier for the burgeoning lithium battery industry. The Company is exploring a large land package in Nevada’s Clayton Valley, contiguous to the only producing lithium operation in North America – Silver Peak, owned and operated by Albemarle, the world’s largest lithium producer.
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