United Lithium Files $150.0 Million Base Shelf Prospectus

Hot off the heels of announcing a definitive agreement to acquire a lithium asset in Finland, it appears that United Lithium (CSE: ULTH) is not quite ready to relax for the holidays. The firm yesterday evening announced the filing of a final base shelf prospectus.

The base shelf prospectus, pegged at C$150.0 million, enables the company to offer and issue common shares, debt securities, subscription receipts, and warrants over the next 25 month period. While it does not mean the firm is currently raising funds at the moment, in enables the firm to do so at a much quicker pace when certain opportunities arise now that a base shelf has been filed.

The prospectus is valid for public offerings, at-the-market distributions, and strategic investments.

Commenting on the filing, CEO Michael Dehn stated, “the filing of the Base Shelf Prospectus gives us the ability to move quickly to take advantage of future financing opportunities that may arise and provides enhanced flexibility as we continue to assess strategic acquisitions across the lithium sector.”

United Lithium last traded at $0.54 on the TSX Venture.

FULL DISCLOSURE: United Lithium is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover United Lithium on The Deep Dive, with The Deep Dive having full editorial control. Additionally, the author personally holds shares of the company. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.

Leave a Reply