Beyond Lithium Inc. (CSE: BY) (OTCQB: BYDMF) announced on May 27, 2024, the completion of a non-brokered private placement of 2.5 million flow-through common shares at $0.20 per share, raising $500,000. The funds will be used for eligible Canadian exploration expenses related to the company’s projects in Ontario. Allan Frame, President and CEO, commented on the plans to ramp up 2024 exploration activities at their multiple projects. Four primary projects and 23 prospective projects have been finalized for the 2024 exploration program.

Beyond Lithium Announces Flow-Through Offering

Beyond Lithium Inc. has raised $500,000 through a private placement of 2.5 million flow-through common shares at $0.20 per share. These funds are earmarked for Canadian exploration expenses related to the company’s Ontario projects. Allan Frame, Beyond Lithium’s President and CEO, highlighted their strategic goals, including building on the successes of their 2023 exploration season.

Exploration Plans for 2024

Lawrence Tsang, VP Exploration at Beyond Lithium, shared that the exploration team will focus initially on the Victory Project, followed by the Ear Falls and Cosgrave Projects. The 2024 program includes detailed mapping and sampling to delineate potential drilling targets. Beyond Lithium has already secured an exploration permit for the Victory Project, allowing them to proceed with planning stripping targets.

Details on Exploration Targets

The company plans to continue engaging with both the Ministry of Mines and Aboriginal communities to obtain necessary permits for their projects. The exploration efforts in 2024 will focus on uncovering additional spodumene mineralization and discovering new spodumene-bearing pegmatites. Figure 1 to Figure 4 illustrate the exploration target zones for various projects:

Funding and Third-Party Engagement

In connection with the offering, Beyond Lithium paid certain third parties $35,000 in cash commissions and issued 175,000 non-transferable broker warrants, each exercisable to acquire one common share at $0.20 per share for two years.

About Beyond Lithium Inc.

Beyond Lithium Inc. has a large greenfield lithium exploration portfolio in Ontario, spanning 119,000 hectares. The company uses a project generator business model to maximize exploration funds while minimizing shareholder dilution. Beyond Lithium currently has 33,874,482 common shares outstanding.

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