1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Marketwired
Marketwired
Articles 

Argentina Lithium Financing Oversubscribed to Raise $4.1M; Final Tranche of Non-Brokered Private Placement Closed

January 24, 2018 | About:

VANCOUVER, British Columbia, Jan. 24, 2018 (GLOBE NEWSWIRE) -- Argentina Lithium & Energy Corp. (TSX-V:LIT) (FSE:OAY1) (WKN:A0RK7E) (PNXLF) (“Argentina Lithium” or the “Company”) is pleased to announce it has closed the second and final tranche of the non-brokered private placement financing announced on November 21, 2017 and December 12, 2017 consisting of 5,422,718 units in this tranche for a total of 12,472,275 Units at a price of $0.33 per unit for gross proceeds of $4,115,850.

Each unit will consist of one common share and one transferrable common share purchase warrant. Each warrant will entitle the holder thereof to purchase one additional common share in the capital of the Company at $0.40 per share for two years from the date of issue. If the volume weighted average price for the Company's shares is $0.60 or greater for a period of 5 consecutive trading days, then the Company may deliver a notice (the "Notice") to the warrantholder that the Warrants must be exercised within twenty (20) days from the date of delivery of such Notice, otherwise the Warrants will expire at 4:30 p.m. (Vancouver time) on the twenty-first (21st) day after the date of delivery of the Notice. The accelerated exercise shall not apply until the expiration of the four-month hold period required under Exchange policies and securities laws that are applicable to the Company, being May 23, 2018.

Finder's fees of $76,369.02 are payable in cash on a portion of this tranche of the private placement to parties at arm’s length to the Company. In addition, 231,421 non-transferable finder’s warrants are issuable (the “Finder’s Warrants”) for this tranche. Each Finder’s Warrant entitles a finder to purchase one common share at a price of $0.40 per share for two years from the date of issue, expiring on January 23, 2020. The Finder’s Warrants are also subject to the above accelerated exercise provisions.

The proceeds of the financing will be used for exploration programs on the Company’s projects in Argentina and for general working capital.

This financing is subject to regulatory approval and all securities to be issued pursuant to the financing are subject to a four-month hold period expiring on May 23, 2018.

ON BEHALF OF THE BOARD

“Nikolaos Cacos”
_____________________________________
Nikolaos Cacos, President, CEO and Director

For further information please contact:
Corporate Communications
Tel: 1-604-687-1828
Toll-Free: 1-800-901-0058
Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

ti?nf=NzA5MzcxNyMyMDQxOTI5IzIwODE5OTk=

Rating: 0.0/5 (0 votes)

Comments

Please leave your comment:


Performances of the stocks mentioned by Marketwired


User Generated Screeners


cauleyMidMarket US
Doney1000ebit/ev momentum
dickslee23Piotroski ?
sonderekOctober 15th 2018
Doney1000Combined Value Prescreen new
Doney1000Combined Value Prescreen
Gone Treyding LLCBen Graham Net-Net
eric.lubbersROC DEBT
DBrizanCDN2018Oct215 154a
DBrizanCDN2018Oct215 153a
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat

{{numOfNotice}}
FEEDBACK