- ACME Lithium (ACME) has announced C$4.2M in follow-on financing from Waratah Capital Advisors and the Probity Mining Flow-Through Fund
- The company will use the proceeds to explore lithium properties in Manitoba and Nevada
- ACME Lithium acquires, explores and develops battery metals projects
- ACME Lithium (ACME) is down by 8.11 per cent trading at $1.02 per share
ACME Lithium (ACME) has announced C$4.2M in follow-on financing.
The funds stem from Waratah Capital Advisors and the Probity Mining Flow-Through Fund.
The company will engage in a non-brokered private placement with Waratah Electrification and Decarbonization AIE LP, which involves the issuance of 2,963,500 units priced at $1.08 for aggregate gross proceeds of $3,200,580.00.
Each unit consists of one common share and one-half of one common share purchase warrant.
Each warrant entitles the holder to purchase one additional common share priced at $1.40 for three years.
ACME also arranged a non-brokered flow-through private placement with Probity Mining 2022 Short Duration Flow-Through LP consisting of 666,668 units priced at $1.50 for aggregate gross proceeds of $1,000,002.00.
The flow-through units consist of one flow-through common share and one-half of one non-flow-through common share purchase warrant.
Each warrant entitles the holder to purchase one additional common share priced at $1.80 for two years.
ACME will use the Waratah proceeds for exploration at its 100-per-cent owned Cat-Euclid and Shatford Lake lithium projects in Manitoba and its Clayton Valley and Fish Lake Valley projects in Nevada.
It will also use the proceeds from the flow-through private placement to explore Cat-Euclid and Shatford Lake.
The company is in the final process of permitting at Clayton Valley for an upcoming drill program focused on prospective lithium brine targets.
Its Manitoba properties are located in the Bird River Greenstone Belt, which hosts hundreds of individual pegmatite bodies.
ACME Lithium acquires, explores and develops battery metals projects in partnership with leading technology and commodity companies.
ACME Lithium (ACME) is down by 8.11 per cent trading at $1.02 per share as of 2:43 pm EST.
