Sign up
Mining Capital

American Lithium to raise up to C$3.6mln via private placement

The company can choose to increase the size of the placement, depending on market conditions
batteries
The securities issued under the private placement will be subject to a four-month hold period.

American Lithium Corp. (CVE:LI) said it is raising up to C$3.6mln through a non-brokered private placement deal, comprising the issue of up to 12 mln units at 30 Canadian cents per unit.

Each unit will comprise one common share and one common share purchase warrant, the company said in a statement. Each warrant will entitle the holder to buy one common share at 40 Canadian cents per share for a period of 24 months from the closing date.

READ: American Lithium mystified by this week's 54% share price spike

The company can choose to increase the size of the placement, depending on market conditions.

American Lithium said it may also pay a finder's fee with respect to the issue and sale of some or all of the units. The fee will not be more than an 8% cash payment.

READ: American Lithium's share consolidation to take effect on 28 August

The securities issued under the private placement will be subject to a four-month hold period, the company added.

View full LI profile

American Lithium Corp Timeline

View All

Related Articles

© mining Capital 2017

Mining Capital, a subsidiary of Proactive Investors, acts as the vanguard for listed mining companies to interact with institutional and highly capitalised investors.
Headquartered in London, Mining Capital is led by a team of Europe's leading analysts and journalists, publishing daily content, covering all key movements in the Technology market.