VANCOUVER, BRITISH COLUMBIA–(Marketwired – Sept. 6, 2016) – Advantage Lithium Corp. (the “Company” or “Advantage Lithium“) (TSXV:AAL) announces that the Company will undertake a non-brokered private placement financing of up to 8,400,000 units at a price of $.60 per unit to raise gross proceeds of up to $5,040,000. Each unit comprises one common share and one-half of one share purchase warrant, with each whole warrant entitling the holder to purchase an additional common share for a term of two years from the closing date at a price of $.75 per share. Finder’s fees will be payable on a portion of the private placement. All securities issued will be subject to a four month hold period from the date of closing.
Said Mr. David Sidoo, President, “The Company continues to make strong and rapid progress, most recently closing the agreement on the lithium brine projects in Nevada and announcing a drill program at Clayton Valley NE, immediately adjacent to Albemarle. We have a clear goal to build shareholder value through strategic acquisitions and the drill bit, and this financing will provide us with the additional working capital required to aggressively pursue our objectives.”
The post Advantage Lithium Announces Non-Brokered Financing to Raise $5,040,000 appeared first on Investing News Network.