- Tearlach Resources Limited (TEA) has announced a $5 million non-brokered private placement
- Tearlach will sell up to 10,000,000 units for $0.50 each
- Proceeds will go towards its lithium projects in Northwestern Ontario, general working capital, repayment of debts, and funds to assess further lithium opportunities
- Tearlach is a Canadian-based emerging resource company
- Tearlach Resources Limited (TEA) is up 1.68 per cent and is trading at $1.21 per share as of 1:56 p.m. ET
Tearlach Resources Limited (TEA) has announced a $5M non-brokered private placement.
Tearlach will issue up to 10,000,000 units for $0.50 each. Each unit contained one common share of Tearlach and one-half of one transferable share purchase warrant. Each whole warrant will entitle the holder to purchase one additional share for two years from the closing date at an exercise price of $0.90, subject to an acceleration provision.
Proceeds from the offering will be used to fund work on its lithium projects in Northwestern Ontario, general working capital, repayment of debts, and funds to assess further lithium opportunities in Western Ontario, Quebec, and the U.S.
Tearlach is a Canadian-based emerging resource company whose goal is to be the leading lithium exploration and development company in the Americas.
Tearlach Resources Limited (TEA) is up 1.68 per cent and is trading at $1.21 per share as of 1:56 p.m. ET.