Advance Lithium Announces Private Placement Financing
Kamloops, British Columbia–(Newsfile Corp. – April 13, 2022) – Advance Lithium Corp. AALI (“Advance Lithium” or “the Company”) announces that, subject to the approval of the TSX Venture Exchange, it proposes to undertake a non-brokered private placement of units (the “Units”) at a price of five cents ($0.05) per Unit (the “Funding” ). Each unit will consist of one common share in the capital of the Company and one common share purchase warrant, each warrant exercisable to purchase one common share at a price of seven cents ($0.07) l share at any time within 24 months of the issue date.
Funding will be for a maximum of $300,000, resulting in the issuance of 6,000,000 units. The funds will be used to advance the Lithium Project and for general corporate purposes.
The Company intends to close the private placement immediately upon satisfaction of customary closing conditions, including receipt of all regulatory approvals. There are no material facts or material changes relating to the Company that have not been previously disclosed.
About Advance Lithium Corp.
Advance Lithium is a junior exploration company focused on acquiring and exploring mineral properties containing precious metals, battery metals and fertilizer minerals. The company acquired a 100% interest in the Tabasquena silver mine in Zacatecas, Mexico, in 2017, and the Venaditas project, also in Zacatecas state, in April 2018.
Additionally, Advance Lithium holds a 3% NSR on strategic concessions in the Liranda Corridor in Kenya, East Africa. The remaining stake is held by Shanta Gold Limited (project previously held by Barrick Gold Corporation, for details see Advance Gold press release dated 2020-08-26).
In March 2020, the Company entered the lithium space with a purchase agreement to acquire 13 prospective lithium-potassium boron salars in central Mexico, which also includes rights to a proprietary lithium mining method and patent pending potassium.
For more information, please contact:
Allan Barry Laboucan,
President and CEO
Cell phone Mexico: 492-238-5282
Email: [email protected]
This press release contains certain statements that may be considered “forward-looking statements”. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”. , “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “should”, “could” or “should” occur. Although the Company believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results may differ materially from those announced based on beliefs, estimates and opinions. of the Company’s management on The Company assumes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions or other factors should change, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120361