- Lithium Ionic (LTH) has closed its private placement of common shares for gross proceeds of $25,000,000
- The company issued 15,625,000 shares at a price of $1.60 per share
- The company intends to use the net proceeds for exploration and development work on its mineral properties
- Lithium Ionic is a Canadian exploration company with a 100 per cent ownership interest in the Itinga lithium project in Brazil
- Lithium Ionic Corp. (LTH) is up 5.33 per cent on the day, trading at C$1.58 per share at 10 am ET
Lithium Ionic (LTH) has closed its previously-announced private placement of common shares for gross proceeds of $25,000,000.
The company issued 15,625,000 shares at a price of $1.60 per share.
The offering was led by Clarus Securities Inc., as the lead agent, on behalf of a syndicate of agents. The agents received a cash fee equal to six per cent of the gross proceeds and 937,500 non-transferable broker warrants.
The company intends to use the net proceeds for exploration and development work on its mineral properties and general corporate working capital purposes.
All securities issued are subject to a statutory four-month hold period.
Lithium Ionic is a Canadian exploration company with a 100 per cent ownership interest in the Itinga lithium project in Brazil. The Itinga Project, located in Minas Gerais State (MG), Brazil, comprises five mineral licenses covering more than 1,300 hectares in the prolific Aracuai lithium province.
Lithium Ionic Corp. (LTH) is up 5.33 per cent on the day, trading at C$1.58 per share at 10 am ET.