- Ultra Lithium (ULT) has closed its private placement for gross proceeds of $5 million
- The company issued a total of 27,777,778 units at a price of C$0.18 per unit
- Net proceeds will be used to fund the exploration of the company’s properties
- Ultra Lithium Inc. is an exploration and development company focused on lithium, gold, and copper
- Ultra Lithium Inc. (ULT) is up 6.67 per cent, trading at C$0.24 per share at 10 am ET
Ultra Lithium (ULT) has closed its private placement for gross proceeds of $5 million.
The company issued a total of 27,777,778 units at a price of C$0.18 per unit . Each unit includes one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of C$0.25 for a period of 12 months.
Net proceeds will be used to fund the exploration of the company’s properties in Argentina, Ontario and Nevada and for general working capital purposes.
Finder’s fees were issued to PI Financial, Canaccord Genuity and Rui Zhang.
All shares issued will be subject to a four-month hold period.
Ultra Lithium Inc. is an exploration and development company focused on the acquisition and development of lithium, gold, and copper assets.
It holds a brine lithium property in Argentina, hard rock spodumene type lithium properties at the Georgia Lake / Forgan Lake area in northwestern Ontario, Canada, and a brine lithium property in the Big Smoky Valley Nevada, USA.
Ultra Lithium Inc. (ULT) is up 6.67 per cent, trading at C$0.24 per share at 10 am ET.
