Advance Lithium Corp. - President & CEO, Allan Barry Laboucan.
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  • Advance Lithium (AALI) has closed a private placement raising gross proceeds of $91,000
  • Subject to the receipt of all regulatory approvals, the company will issue 4,550,000 units
  • Each unit consists of one common share and one common share purchase warrant
  • Advance Lithium is a junior exploration company focused on acquiring and exploring properties containing precious metals, battery metals and fertilizer minerals
  • Advance Lithium Corp. (AALI) is up 20.00 per cent, trading at C$0.03 per share at 2:19 pm ET

Advance Lithium (AALI) has closed its previously announced private placement raising gross proceeds of $91,000.

Subject to the receipt of all regulatory approvals, the company will issue 4,550,000 units. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into one additional common share at $0.05 for 24 months, expiring May 25, 2025.

The net proceeds will be used to advance the Lithium and Sarape projects and for general corporate purposes.

All securities issued will be subject to a statutory four-month hold period.

A finders’ fee consisting of 8 per cent cash and 8 per cent Broker’s warrants was paid in connection to this offering. Each Broker warrant is exercisable for one common share at $0.05 for 24 months.

Advance Lithium is a junior exploration company focused on acquiring and exploring properties containing precious metals, battery metals and fertilizer minerals.

The company has approximately 13 lithium-potassium-boron salars in central Mexico. It also has a pilot plant designed and built using a patented extraction method to process lithium in a green manner. The company acquired a 100-per-cent interest in the Sarape epithermal gold project in Mexico in July 2022.

Advance Lithium Corp. (AALI) is up 20.00 per cent, trading at C$0.03 per share at 2:19 pm ET.


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