EV batteries Source: ACME Lithium
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • ACME Lithium (ACME) has closed the second and final tranche of its non-brokered private placement financing for $1.25 million
  • The private placement was for combined total gross proceeds of $5.7 million
  • This has moved ACME’s working capital to about $11.9 million with no debt, based on unaudited figures
  • The company will use the proceeds at its Cat-Euclid and Shatford Lake lithium projects
  • ACME Lithium is a mineral exploration company focused on acquiring, exploring and developing battery metal projects
  • ACME Lithium Inc was unchanged at $1.10 at 11:20 ET

ACME Lithium (ACME) has closed a second and final tranche of its non-brokered private placement financing for gross proceeds of $5.7 million.

The company issued 232,482 units at a price of $1.08 per unit for gross proceeds of $250,000. Each unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $1.40 per share for three years.

ACME also issued 666,668 flow-through units at a price of $1.50 per FT unit for gross proceeds of $1,000,002. Each FT unit consists of one flow-through common share and one-half of one non-flow through common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share at a price of $1.80 per share for two years.

The company will use the proceeds at its 100-per-cent-owned Cat-Euclid and Shatford Lake lithium projects in southeast Manitoba. The proceeds will also be used at its Clayton Valley and Fish Lake Valley, Nevada projects, as well as general working capital purposes.

ACME Lithium is a mineral exploration company focused on acquiring, exploring and developing battery metal projects in partnership with leading technology and commodity companies.

ACME Lithium Inc was unchanged at $1.10 at 11:20 ET.

More From The Market Herald

" Grizzly (TSXV:GZD) to advance 2022 drilling for BC precious & battery metals projects

Grizzly Discoveries (GZD) is reviewing proposals for core drilling during the 2022 exploration season.

" ArcPacific (TSXV:ACP) locates lost gold-copper mine on LMSL Project

ArcPacific Resources Corp. (ACP) has discovered an early 1900s era gold-copper mine at its LMSL Project in British Columbia.

" CanAlaska Uranium (TSXV:CVV) begins airborne survey at Geikie Project

CanAlaska Uranium (CVV) has begun a high-resolution helicopter-borne aeromagnetics and radiometrics survey on its Geikie project.

" Osisko Development (TSXV:ODV) releases San Antonio Property mineral resource estimate

Osisko Development Corp. (ODV) has released an initial open pit resource estimate at its San Antonio Project in Sonora State, Mexico.