Canada Lithium closes $15m offering despite tough market
TORONTO (miningweekly.com) – Project developer Canada Lithium on Monday said it had closed a $15-million public offering.
The company said it a total of 20.55-million units were issued at a price of 73c apiece, comprising one common share of the company and half of a common share purchase warrant exercisable for a period of two years following the closing of the offering at a strike price of 85c.
Canada Lithium said it intended to use the net proceeds of the offering to fund the initial stages of several capital projects, to conduct preliminary bench-scale pilot plant work and preliminary engineering in the context of a feasibility study for its lithium metal pilot plant and for working capital purposes during the commissioning stages of the Québec lithium project.
Casimir Capital led the offering, with a syndicate that included Mackie Research Capital, Dundee Securities, Scotia Capital and Fraser Mackenzie.
The company closed the equity financing despite a tough market for juniors, which had seen several juniors withdraw and unsuccessfully close proposed financings.
The company’s shares changed hands for 67 Canadian cents apiece on Monday on the Toronto bourse.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation