Subscribe
Be the first with the news that moves the market- Imagine Lithium (ILI) has closed its non-brokered private placement for total gross proceeds of $9,132,150
- The company issued 48.82 million flow-through shares at $0.1725 per share and 6.18 million non-flow-through common shares at $0.115 per common share
- Imagine will use the gross proceeds from the sale of FT Shares for further exploration drilling and general exploration expenditures on the Jackpot Lithium Project
- Gross proceeds from the sale of Common Shares will be used for general corporate purposes
- Imagine is a junior mining exploration company focusing on seeking and acquiring world-class mineral projects
- Imagine Lithium Inc. (ILI) is up 11.11 per cent, trading at C$0.10 per share at 12:28 pm ET
Imagine Lithium (ILI) has closed its non-brokered private placement for total gross proceeds of $9,132,150.
The company issued 48.82 million flow-through shares at $0.1725 per share for gross proceeds of $8,421,450. This represents 92 per cent premium over the previous closing price of the company’s common shares on the TSX Venture Exchange.
In addition, the company has closed a private placement of 6.18 million non-flow-through common shares at $0.115 per common share for gross proceeds of $710,700.
Imagine will use the gross proceeds from the sale of FT Shares for further exploration drilling and general exploration expenditures on the Jackpot Lithium Project, located approximately 140 km north-east of Thunder Bay, Ontario.
An exploration program on the property will incorporate expansion drilling at the Jackpot Main Zone, exploration drilling on additional targets beyond the Main Zone, as well as a prospecting and sampling program to cover the entire Jackpot property package.
Gross proceeds from the sale of Common Shares will be used for general corporate purposes.
About Imagine Lithium
Imagine is a junior mining exploration company focusing on seeking and acquiring world-class mineral projects.
The company holds the Jackpot lithium property located in the Georgia Lake Area about 140 km NNE of Thunder Bay, Ontario. It is approximately 12 km by road from the TransCanada Highway (Hwy 11) and is in proximity to sources of power, railroads, and ports.
The property contains known lithium bearing granitic pegmatite dikes, of which two provided estimated historical resources of 2 million tons at 1.09 per cent Li2O and 750,000 tons at 1.38 per cent Li2O.
Imagine Lithium Inc. (ILI) is up 11.11 per cent, trading at C$0.10 per share at 12:28 pm ET.
The materials provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
