Frontier Lithium (TSXV: FL) this morning announced a non brokered private placement. The financing will see the company raise gross proceeds of $500,000 through the sale of 1,482,571 flow through share units.
Each unit under the offering will be offered at a price of $0.35, with each unit consisting of one common share and one half of a common share purchase warrant. Each warrant has an expiry of 24 months from the date of closing, with an exercise price of $0.45 per share.
Proceeds raised from the financing are expected to be used for exploration purposes at the firms 100% owned PAK Lithium Project, located in northwestern Ontario.
A closing date was not provided for the financing.
Frontier Lithium last traded at $0.29 on the TSX Venture.
Information for this briefing was found via Sedar and Frontier Lithium. 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.
