Nemaska Lithium Inc. (TSX-V:NMX) (OTCQX:NMKEF) announced today that it has closed the minimum offering of $1,000,000 of its Prospectus Supplement no. 5 announced on January 30. Consequently the Corporation has issued 5,000,000 common shares at a price of $0.20 per share and 2,500,000 common share purchase warrants entitling its holder to purchase one common share at a price of $0.28 until February 4, 2017. The Corporation intends to have an additional closing to complete the maximum offering of $2M.
The Corporation intends to use the net proceeds of the Offering and other available funds for general working capital and administrative expenses as well as for Phase 1 plant detailed engineering.
The Corporation has filed Prospectus Supplement no. 5 dated January 30, 2015 to the Short Form Base Shelf Prospectus dated March 4, 2013 with the securities regulatory authorities in each of the Provinces of Quebec, Ontario, Alberta and British Columbia, in relation to an offering (the “Offering”), by the Corporation, as securities issuer, of a minimum of 5,000,000 units of the Corporation (the “Units”) for an aggregate gross proceeds of $1,000,000 and a maximum of 10,000,000 Units for an aggregate gross proceeds of $2,000,000 at a price of $0.20 per Unit.
Each Unit consists of one common share of the Corporation and one-half of one Common Share purchase warrant. Each whole Common Share purchase warrant, a “Warrant” entitles its holder to purchase one Common Share at a price of $0.28 at any time prior to 5:00 p.m. (Montreal time) on the date that is 24 months following the closing date.
In connection with the Offering, the Corporation may, at its entire discretion, pay registrants registered pursuant to Regulation 31-103 respecting Registration Requirements Exemptions and Ongoing Registrant Obligations a cash commission up to 5% of the gross proceeds of the Offering.
A copy of the Supplement no. 5 may be obtained on request without charge from the President, Chief Executive Officer and Secretary of Nemaska by emailing firstname.lastname@example.org or directing a request to Nemaska Lithium Inc. at 450, rue de la Gare-du-Palais, 1st Floor, Quebec, Quebec, G1K 3X2, telephone: (418) 704-6038, Attn: President, Chief Executive Officer and Secretary, and are also available electronically at www.sedar.com.
The securities have not been registered under the United States Securities Act of 1933 (the “Act”) or any state securities laws and may not be offered or sold absent registration under the Act and applicable state securities laws or an applicable exemption from the registration requirements thereof. This news release does not constitute an offer to sell or a solicitation of an offer to buy, nor would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or an exemption there from.
Nemaska intends to become a lithium hydroxide/carbonate producer based in Quebec and has filed patent applications for its proprietary methods to produce lithium hydroxide and lithium carbonate. In tandem, the Corporation is developing one of the richest spodumene lithium hard rock deposit in the world, both in volume and grade. Once in production, spodumene concentrate produced at Nemaska’s Whabouchi mine will be shipped to the Corporation’s lithium hydroxide/carbonate processing plant to be built in Salaberry-de-Valleyfield, Quebec. This plant will transform spodumene concentrate into high purity lithium hydroxide and lithium carbonate mainly for the growing lithium battery market.
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