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Source: American Lithium
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  • American Lithium (LI) has completed a private placement for gross proceeds of $35,001,200
  • The company issued 3,208,000 units at an offering price of $2.65 per unit
  • The proceeds of the offering will be used for the exploration and development of the company’s TLC, Falchani and the Macusani projects
  • The offering was co-led by Eight Capital, Echelon Wealth Partners Inc. and TD Securities Inc.
  • American Lithium Corp is a Canadian-based exploratione company
  • American Lithium Corp. (LI) is up 1.32 per cent, trading at C$4.61 per share at 11 am ET

American Lithium (LI) has completed a private placement for gross proceeds of $35,001,200.

The company issued 3,208,000 units at an offering price of $2.65 per unit. Each unit consists of one common share and one-half of one common share purchase warrant. Each warrant will entitle the holder to purchase one share at a price of $4.00 until November 3, 2023.

The proceeds of the offering will be used for exploration and development of the company’s TLC Project, Falchani Project and the Macusani Project, and for working capital and general corporate purposes.

The offering was co-led by Eight Capital, Echelon Wealth Partners Inc. and TD Securities Inc., on behalf of a syndicate of agents that also included Roth Canada, ULC. In consideration for their services, the agents received a cash commission of $2,061,617.85.

The securities issued in connection with the offering are subject to a statutory hold period expiring March 4, 2022.

American Lithium Corp is a Canadian-based exploration company engaged in the development of lithium projects within mining-friendly jurisdictions throughout the Americas.

American Lithium Corp. (LI) is up 1.32 per cent, trading at C$4.61 per share at 11 am ET.

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