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**Arctic Fox Lithium Corp. (CSE: AFX / FSE: 05K)** has announced a non-brokered private placement, offering up to 3,000,000 flow-through units (FT Units) at $0.02 each and 7,000,000 non-flow-through units (NFT Units) at $0.015 each, to raise $60,000 and $105,000 respectively.
Details of the Flow-Through Units
The FT Units comprise one common share plus one non-transferable share purchase warrant. Each warrant enables the purchase of one additional common share at $0.05 within 24 months of closing. Funds from the FT Units will go towards exploration expenses that qualify as Canadian exploration expenses, specifically focusing on Arctic Fox Lithium’s projects in James Bay, Québec.
Details of the Non-Flow-Through Units
The NFT Units consist of one common share and a non-transferable share purchase warrant. Each warrant allows the purchase of one additional common share at $0.05 for up to 24 months after closing. The proceeds will be used for option payments on mineral projects and general working capital.
Hold Period and Finders’ Fees
Securities issued from both FT and NFT Units are subject to a four-month and one day hold period. The company may also pay finders’ fees.
About Arctic Fox Lithium Corp.
Arctic Fox Lithium Corp. is a junior mineral exploration company focused on acquiring and developing properties with battery, base, and precious metals. The company’s Pontax North Lithium Project is strategically located near Allkem and Stria Lithium projects in Québec.
The Pontax North Lithium Project
This project encompasses 2,859 hectares and is situated in a lithium-rich zone similar to Allkem’s project. The geological setting hosts S-type granitic pegmatite, known for its potential in Be, Li, Cs, Nb, and Ta. Despite its potential, the area remains underexplored.
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