Vision Lithium Inc. (TSXV: VLI) this morning reported that it has completed the previously announced private placement for aggregate gross proceeds of $3.6 million. The offering was completed via both flow through and non-flow through units.
The offering consisted of 15.1 million flow-through units priced at $0.22 per unit. Each unit is composed of a common share and one half of a warrant to purchase a common share at $0.30 per share within two years from issuance. 1.7 million non-flow through units of the company at a price of $0.18 per unit were also sold. Each such unit contained one common share and one half of a common share purchase warrant, with these warrants also being valid for a period of two years at a price of $0.25 per share.
Net proceeds from the offering are to be used for the exploration of certain of the firm’s properties as well as for general corporate and working capital purposes.
Vision Lithium Inc. last traded at $0.18 on the TSX Venture.
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