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Li3 Lithium Corp. (TSXV: LILI | WD9.F) has announced a proposed non-brokered private placement. The placement aims to raise up to $250,000, offering up to 5,000,000 units at $0.05 per unit. Each unit includes one common share and one warrant.
Private Placement Details
Each warrant allows the holder to buy one common share for $0.10 within 18 months after closing. All securities from this private placement will have a four-month hold period. The completion of the Private Placement depends on receiving all necessary regulatory and TSX Venture Exchange approvals.
Use of Proceeds
The proceeds will fund general working capital and due diligence costs. These costs are related to identifying and evaluating potential hard rock spodumene assets for acquisition in Zimbabwe and the Americas.
Mutare Lithium Project, Zimbabwe
The Mutare Lithium Project, located in Zimbabwe’s Mutare Greenstone Belt, is under evaluation for additional prospective ground acquisition. Zimbabwe, holding Africa’s largest lithium resources and the fifth largest globally, is becoming a significant player in the lithium supply chain.
About Li3 Lithium Corp.
Li3 Lithium focuses on acquiring and developing hard rock spodumene lithium assets in Zimbabwe and Argentina. The global supply of lithium is expected to be dominated by hard rock lithium deposits due to the scarcity and complexity of alternative brine sources.
This release contains forward-looking information subject to various risks and uncertainties. The Company does not undertake any obligation to update forward-looking information unless required by law.
Company Website: https://www.lithium3.com
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