Lithium Lion Metals Inc. (CSE: LLM) has announced the successful completion of its non-brokered private placement of units for C$590,000. The company sold 11,800,000 units at C$0.05 each, with each unit comprising a common share and a purchase warrant. The warrants allow for the purchase of common shares at C$0.055 for two years.

Lithium Lion’s Strategic Funding Milestone

Following a significant shareholder approval in line with CSE Policy 6, the private placement has exceeded the current issued and outstanding shares by over 100 percent. An insider of the company participated with a contribution of $10,000, representing about 1.69% of the offering. The funds from the private placement will support exploration activities and general working capital needs.

Securities Issuance and Usage of Funds

Issued securities are subject to a four-month holding period as per National Instrument 45-106. The company clarified that no finder’s fees were paid for this private placement.

About Lithium Lion Metals Inc.

Lithium Lion Metals Inc. focuses on mineral exploration, specifically on the 13N Project in Quebec, spanning 59 mining claims across approximately 3,107 hectares. David Beck, the Interim Chief Executive Officer, leads the company.

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