Canadian company Cypress Development has closed its previously announced upsized bought deal offering, raising C$18.14-million to fund ongoing work, development and permitting activities at its Clayton Valley lithium project, in Nevada.
Cypress issued 9 058 000 units of the company at C$2 each and 142 000 warrants at C$0.1598 each to raise the proceeds.
Cypress is advancing Clayton Valley towards production of high-purity lithium hydroxide suitable for battery usage.