American Lithium Launches $20.0 Million Private Placement

American Lithium Corp. (TSXV: LI) announced last night that it has entered into an agreement to conduct a private placement. The financing is reported to be for aggregate gross proceeds of $20.0 million.

The private offering, made with Eight Capital on behalf of a syndicate of agents, comprises 7,548,000 company units at $2.65 per unit. Each unit consisted of a common share and one-half of a common share purchase warrant. Each whole warrant entitles the bearer to purchase a common share at $4.00 per share within two years from closing.

The company said the proceeds of this funding will be used for the exploration and development of its TLC project, Falchani Project, and the Macusani Project, and for working capital and general corporate purposes.

American Lithium Corp. last traded at $2.89 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

200 Grams of Gold And 21% Copper — That’s Not Normal | Matt Wilson – Sterling Metals

Silver at $100? This Time It Might Stay There. | David Morgan

Critical Minerals Are Rerating! | John Passalacqua – First Phosphate

Recommended

Steadright Enters MOU To Acquire Historic Goundafa Polymetallic Mine In Morocco

Military Seizes Power in Madagascar After President Flees

Related News

American Lithium Receives US Government Grant For Lithium Processing Plant

American Lithium (TSXV: LI) has received a government grant related to the development of a...

Thursday, March 4, 2021, 07:56:11 AM

American Lithium Completes $15.0 Million Funding

American Lithium Corp. (TSXV: LI) announced last night that it has completed its previously announced...

Friday, April 30, 2021, 09:01:11 AM

American Lithium Identifies Two New Lithium Targets Near Falchani Deposit

American Lithium Corp. (TSXV: LI) this morning announced that discovery of two new high-priority, drill-ready...

Thursday, May 20, 2021, 10:19:00 AM

Surge Battery Metals Sees American Lithium Take 9.9% Stake

Investors in Surge Battery Metals (TSXV: NILI) have seen a vote of confidence from American...

Friday, June 2, 2023, 09:29:46 AM

American Lithium Advances Completion Of Pre-Feasibility Study At Falchani

American Lithium (TSXV: LI) is re-prioritizing its Falchani Lithium project, found in southern Peru. The...

Monday, March 6, 2023, 08:13:59 AM