Mr. Steven Cochrane reports
LITHIUM CHILE ANNOUNCES CLOSING OF PREVIOUSLY ANNOUNCED $0.60 UNIT FINANCING
Lithium Chile Inc. has closed its recently announced non-brokered private placement of units
of the company at a price of 60 cents per unit,
issuing 6,922,817 units for aggregate gross proceeds of $4,153,690.20.
Each unit is composed of one common share of the company and one common share purchase warrant. Each warrant is exercisable at 75 cents per common share for a period of 24 months from the date of closing of the offering. Lithium Chile paid cash commissions to qualified non-related parties of $192,144.51.
The proceeds of the offering will be used for working capital and to pay the expenses of the offering.
Completion of the offering is subject to regulatory approval, including, but not limited to, the approval of the TSX Venture Exchange. The common shares and warrants issued under the offering are subject to a four-month hold period from the date of the closing of the offering.
The company further announces that it has engaged Clarkham Capital in providing investor relations and digital marketing services throughout Europe. There were no options issued to Clarkham as part of this engagement.
About Lithium Chile Inc.
Lithium Chile is advancing a lithium property portfolio consisting of 68,800 hectares covering sections of 10 salars and two laguna complexes in Chile and one property of 23,300 hectares in Argentina.
Lithium Chile also owns five properties, totalling 22,429 hectares, that are prospective for gold, silver and copper. Exploration efforts are continuing on Lithium Chile's Carmona gold/silver/copper property, which lies in the heart of the Chilean megaporphyry gold/silver/copper belt.
Lithium Chile's common shares are listed on the TSX Venture Exchange under the symbol LITH and on the OTCBB under the symbol
We seek Safe Harbor.
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