Mr. Allan Frame reports
BEYOND LITHIUM COMPLETES UNIT PRIVATE PLACEMENT FOR GROSS PROCEEDS OF $250,000
Beyond Lithium Inc. has closed a non-brokered private placement of five million units of the company for aggregate gross proceeds of $250,000, previously announced on Oct. 1, 2024, and Dec. 2, 2024. Each unit consists of one common share in the capital of the company and one-half common share purchase warrant of the company, with each warrant entitling the holder to purchase one common share in the capital of the company for a period of 24 months from the date of issuance at an exercise price of 10 cents per share.
The company intends to allocate the net proceeds for general corporate purposes and working capital.
In connection with the offering, the company paid certain eligible third parties dealing at arm's length with the company: (i) cash commissions totalling $17,500, representing 7 per cent of the proceeds raised from subscribers introduced to the company by such finders; and (ii) an aggregate of 350,000 non-transferable brokers' warrants, representing 7 per cent of the number of units sold to such subscribers, each exercisable to acquire one common share of the company for 24 months from the date of issuance at exercise price of five cents per share.
The securities issued pursuant to the offering will be subject to a four-month hold period from their date of issuance.
About Beyond Lithium Inc.
Beyond Lithium has a large greenfield lithium exploration portfolio in Ontario with seven high-potential greenfield lithium properties totalling over 119,000 hectares. The company has adopted the project generator business model to maximize funds available for exploration projects, while minimizing shareholder dilution. Beyond Lithium is advancing certain of its projects with its exploration team and will seek to option other properties to joint venture partners. Partnering on various projects will provide a source of non-dilutive working capital, partner-financed exploration and long-term residual exposure to exploration success.
We seek Safe Harbor.
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