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.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
